budgeting&planning Word Scramble
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Term | Definition |
personal property inventory | a list of your valuable items. |
legal agreement and record keeping | makes saving and budgeting easier. |
legally binding agreement | a contract is a legally enforceable agreement between 2 or more people. |
implied contract | not written but is created by the actions or conduct of someone. |
agreement | a contract has legal agreement when a valid offer is made and accepted. |
consideration | something of value exchanged for something else of value. |
contractual capacity | refers to the competence of the parties to enter a contract. |
legality | to be legally enforceable, a contract must have a lawful purpose. |
notarized | signature is verified by a notable public. |
statute of frauds | every state has a statute of frauds to prevent harm due to fraudulent conduct. |
responsibilities in agreements | fill in all blanks spaces or indicate N/A for items that are applicable. |
surplus | Is when assets is greater than liabilities or when income is greater than expenses. |
Allocate | means to assign or distribute funds. |
Surplus allocation | means you had leftover money in your budget and you need to assign it to a category: savings,misc,etc. |
negotiable | is an unconditional written promise to pay a specified sum of money upon demand of the holder. |
promissory note | written promise to pay a certain sum of money to another person or to the holder of the note on a specified date. |
co-signer | a person who promises to pay the debt of another person. |
warranty | a statement assuring quality and performance of a product or service. |
spreadsheet | is a computer program that organizes data in columns and rows and can perform calculations using the data, like MS excel. |
database | is a computer program that organizes data for easy search and retrieval, Like MS Access. |
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