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Overdue Instruments
Refers to financial instruments, such as checks or promissory notes, that have not been paid or honored by the specified due date.
Accelerated Due Date
A revised payment date, moved earlier than originally scheduled, usually triggered by a breach of contract terms.
Grace Period
A set time period after a deadline during which a late payment or other obligation may be met without incurring a penalty.
Judgment
The official decision or conclusion given by a court following a legal proceeding.
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