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An engagement letter defines the legal relationship (or engagement) between a professional firm (e.g., law, investment banking, consulting, advisory or accountancy firm) and its client (s). This letter states the terms and conditions of the engagement, principally addressing the scope of the engagement and the terms of compensation for the firm.
Memorandum of understanding. A memorandum of understanding ( MoU) is a type of agreement between two ( bilateral) or more ( multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action. [ 1] It is often used either in cases where parties do not imply a legal commitment or in ...
Involuntary commitment. Involuntary commitment, civil commitment, or involuntary hospitalization / hospitalisation[ a] is a legal process through which an individual who is deemed by a qualified person to have symptoms of severe mental disorder is detained in a psychiatric hospital (inpatient) where they can be treated involuntarily.
Loan agreements are documented via their commitment letters, agreements that reflect the understandings reached between the involved parties, a promissory note, and a collateral agreement (such as a mortgage or a personal guarantee). Loan agreements offered by regulated banks are different from those that are offered by finance companies in ...
That is to say, a letter of credit is a payment method used to discharge the legal obligations for payment from the buyer to the seller, by having a bank pay the seller directly. Thus, the seller relies on the credit risk of the bank, rather than the buyer, to receive payment.
The "highly confident letter" was a financing tool created by investment bankers at Drexel Burnham Lambert, dominated by Michael Milken, in the 1980s. Its objective was to enable corporate raiders to launch leveraged buyout (LBO) offers without the debt component of their financing package fully in place. The letter was first crafted in 1983 ...
The " Letter from Birmingham Jail ", also known as the " Letter from Birmingham City Jail " and " The Negro Is Your Brother ", is an open letter written on April 16, 1963, by Martin Luther King Jr. It says that people have a moral responsibility to break unjust laws and to take direct action rather than waiting potentially forever for justice ...
Integrity is the quality of being honest and showing a consistent and uncompromising adherence to strong moral and ethical principles and values. [ 1][ 2] In ethics, integrity is regarded as the honesty and truthfulness or earnestness of one's actions. Integrity can stand in opposition to hypocrisy. [ 3] It regards internal consistency as a ...
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