TWO PARTY CHECK Definition

TWO PARTY CHECK is a check made out from one individual to another, i.e. only two entities are involved in the transaction.

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PRO RATA is the basis for allocating an amount proportionally to the items involved. An amount may be proportionally distributed to assets, expenses, funds, etc.

CAPITAL COMMITMENT is an agreement to undertake capital expenditure at some set time in the future which has not yet become an actual liability.

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