Bad faith refers to dishonesty or fraud in a transaction. Depending on the exact setting, bad faith may mean a dishonest belief or purpose, untrustworthy performance of duties, neglect of fair dealing standards, or a fraudulent intent. It is...
money and financial problems
bail bondsman
A bondsman is a person who guarantees a bond. Bondsmen are most frequently seen in the context of bail bondsman for criminal defendants.
A bail bondsman is a person who provides bail bonds for people charged with crimes and...
bailee
A bailee is a person who receives property from the owner, known as a bailor, and holds the property for the owner for a particular purpose such as custody or repair. Some examples of this include storage companies that hold people’s...
balance due
Balance due is the amount owed on a previous statement for which payment has been required but not been made. It is usually manifested as the amount of a debt still owed on an account or the principal outstanding on a promissory note. Balance...
balance sheet
A balance sheet is a financial statement that consists of a three-part summary of a company's assets, liabilities, and ownership equity at a particular instance in time. It is intended to show the financial condition of a company at that time...
balloon mortgage
A balloon mortgage is a mortgage where the payments are not large enough to pay off the entire mortgage during its amortization period. Thus, the borrower must make an extra-large payment at the end of the amortization period to fully pay off...
balloon payment
Balloon payments refer to very large payments at the end of some short-term loans called balloon loans. Balloon loans are used in commercial settings and sometimes for personal loans, but since the balloon payment often is more than twice the...
bankruptcy
Overview:
Bankruptcy law provides for the reduction or elimination of certain debts, and can provide a timeline for the repayment of nondischargeable debts over time. It also permits individuals and organizations to repay secured debt....
bankruptcy court
There are 94 federal judicial districts. Each of these districts handle bankruptcy matters. Bankruptcy courts refer to the courts in each district that specifically hear bankruptcy cases. In almost every district, bankruptcy courts hear...
bankruptcy discharge
A bankruptcy discharge is granted by the bankruptcy court to release the debtor permanently from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are...