What is Nonfeasance? Nonfeasance is the intentional inaction to perform an act required of one’s position or office. The inaction causes harm to a person or damage to property or goods. A person who is found to have willfully failed to perform their duty as required of their position, or by law, can be found…
What is Numismatics? Numismatics is the study and collection of coins, tokens, and other coin-like objects that people used as currencies throughout history. The term may also refer to the study of money and other payment methods that people use to pay for goods and services and to settle debts. The study is…
What is a Notice to Creditors? A notice to creditors refers to a public notice that is published in newspapers with a wide circulation, and it is addressed to creditors and debtors of the estate of a deceased person. The notice may run for several days or weeks, depending on the state requirements. The notice…
What is a Notice of Termination? A notice of termination is a notification made by an employer and sent to an employee informing the latter that they will no longer work for the organization starting from a specified date in the future. It is an official document from an employer that informs an employee that…
What is a VA Loan? A VA loan refers to a mortgage loan provided to veterans, service members, reservists, and select surviving spouses of military members. The U.S. Government introduced VA loans in 1944 to help veterans and returning service members to purchase homes without requiring an excellent credit history or a down payment, as…
What is Revenue Enhancement? Revenue enhancement is the increase in revenues that is achieved by raising the amount of taxes that individuals and corporations remit to the government. Most of the time, governments run on a deficit budget, due to the inability to meet all the demands for services and infrastructure from citizens. This means…
What is a Joint-Stock Company? A joint-stock company is a business that is owned by its investors. The shareholders buy and sell shares and own a portion of the company. The percentage of ownership is based on the number of shares that each individual owns. Shareholders can buy and sell shares and transfer shares between one…
What is Customer Bonding? Customer bonding is, just as the term implies, the process through which a company or organization makes connections with its customers. The goal of customer bonding is to develop a relationship and sense of community, including the customers so that they: Feel welcomed Are more likely to continue patronizing the company…
