Term
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Definition
| INTERNATIONAL SUMMARY STATEMENT OF ALL ECONCOMIC & FINANCIAL TRANSACTIONS BETWEEN ONE COUNTRY AND THE REST OF THE WORLD FOR ONE YEAR. |
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Term
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Definition
| EXCHANGE OF PROMISES. OFFER IS ACCEPTED BY RETURN PROMISE FROM OFFEREE.UNLESS OTHERWISE INDICATED, A PROMISE TO PERFORM IS USUALLY SUFFICIENET AS ACCEPTANCE. |
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Term
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Definition
| ANY PROPERTY A TAXPAYER HOLDS (I.E. INVENTORY, A/R, DEPRECIABLE PROPERTY, REALESTATE ARE CLASSIFIED AS sECTION 1221 PROPERTY. |
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Term
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Definition
| LONG-TERM, NON-CANCELABLE INSTALLMENT PURCHASES BY LEASEE. |
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Term
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Definition
| FIVE ELEMENTS OF AN ENFORCABLE CONTRACT ARE: LEGALITY - MUTUALITY OF AGREEMENT - CONSIDERATION - CAPACITY OF PARTIES TO PERFORM - FROM (REQUIRED BY LAW). |
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Term
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Definition
| CURRENCY CONSISTS OF COINS AND PAPER MONEY ISSUED BY THE FEDERAL GOVERNMENT. |
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Term
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Definition
| NO UNITS OF A PARTICULAR COMMODITY CAN BE IMPORTED OR EXPORTED. |
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Term
| FICA TAX (FEDERAL INSURANCE CONTIRBUTIONS ACT) |
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Definition
| EMPLOYERS AND EMPLOYEES EACH PAY 7% CONTRIBUTION. |
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Term
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Definition
| MONETARY MEANS FOR MAKING PAYMENTS IN CURRENCIES OTHER THAN A COUNTRY'S OWN CURRENCY. |
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Term
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Definition
| MOVEMENT OF MONIES FROM ONE COUNTRY TO ANOTHER. |
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Term
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Definition
| ENCOMPASSES THE POLITICAL ECONOMY AND THE SOCIOCULTURAL CLIMATE OF DIFFERENT NATIONS. |
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Term
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Definition
| IS BOTH A CONTRACT AND A CONVEYANCE OF REAP PROPERTY. |
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Term
| LICENSING AGREEMENT (FRANCHISES) |
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Definition
| LICENSOR/FRANCHISOR ALLOWS/LICENSES LICENSEE/FRANCHISEE TO USE LICENSOR'S TRADE NAME, TRADEMARKS, COMMERCIAL SYMBOLS, COPY RIGHTS AND OTHER PROPERTY IN DISTRIBUTION/SELLING OF GOODS OR SERVICES. |
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Term
| LONG-TERM CAPITAL GAINS OR LOSSES |
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Definition
| RESULT FROM DISPOSITION OF CAPITAL ASSETS HELD FOR MORE THAN ONE YEAR. LONG-TERM CAPITAL LOSSES OFFSET LONG-TERM CAPITAL GAINS. |
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Term
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Definition
| SHORT-TERM AND GIVE LESSEE THE RIGHT TO USE THE ASSET FOR GIVEN TIME. LESSOR RETAINS OWNERSHIP, RISKS AND REWARDS. |
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Term
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Definition
| NOT A TRUE CONTRACT BECAUSE NO MUTUAL ASSENT. OBLIGATION IMPOSED W/O AGREEMENT TO PREVENT INJUSTICE FROM OCCURRING (UNJUST ENRICHMENT OF A PARTY). |
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Term
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Definition
| POLICY TO RESTRICT AMOUNT OF INTERNATIONAL TRADE. |
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