How would you define "Financial Status" in a legal contract? (2024)

FAQs

How would you define "Financial Status" in a legal contract? ›

Financial Status means the condition including business, assets, properties, operations [related to finances], along with profitability and debt indicators.

The term refers to an individual or group's overall financial condition or situation, including income, savings, debt, assets, and expenses.

Financial Status means the condition (financial or otherwise), business, assets, properties or operations of the Person. Financial Status means profits, losses, revenue, income, earnings, indebtedness, EBITDA, corporate valuation, available cash, or cash flow.

the state of being rich and affluent; having a plentiful supply of material goods and money. impoverishment, poorness, poverty. the state of having little or no money and few or no material possessions. bankruptcy, failure. inability to discharge all your debts as they come due.

Financial Situation means the salary, wages, investments, savings or debt of a person. Sample 1.

Being financially stable means you have enough money coming in to cover your expenses, as well as some extra funds to put aside for savings or potential crises. You continuously save money, you have paid your high-interest debts and you don't fret about emergencies because you're financially prepared.

A Statement of Financial Position is a secure online form that you can complete, which records key information on your current financial situation and how you propose to repay your debts. The form generally takes 10–15 minutes to complete.

A certified financial statement has been audited for accuracy by an independent accountant. A compiled statement may provide investors with useful information but it has not been audited. The quarterly and annual reports issued by public companies are certified financial statements.

An example of Financial analysis is analyzing a company's performance and trend by calculating financial ratios like profitability ratios, including net profit ratio, which is calculated by net profit divided by sales.

How do you describe good financial performance? ›

A company in good financial health will pay its bills on time and maintain good business credit. Analysis of financial performance metrics can be used to identify internal investment opportunities, like automating repetitive processes to increase productivity, and can help maintain positive cash flow.

financial status (noun as in circ*mstances) Strong matches. assets capital chances class command degree dowry footing income lifestyle lot means outlook position precedence prestige property prospects prosperity rank rating resources situation sphere standing state station status substance times.

Financial performance is a broad term that describes a company's overall fiscal health. When you hear that a business has strong financial performance, that often means it has growing revenues, manageable debt, and a healthy amount of free cash flow.