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Payable In Money: The payment of rent in accordance with the terms of the lease is the primary responsibility of the tenant, who is legally known as the lessee. The landlord is the lessor. In the absence of any agreement to the contrary, rent is payable in money at the end of the period. However, most leases call for rent to be paid in advance. When a specified time is provided in the lease for payment of rent, the rent is due and payable in money at that time. Failure on the part of the tenant to meet this requirement constitutes a breach of the lease contract. If the tenant fails to meet this contractual requirement, the landlord may take action to evict (that is, forcibly eject) the tenant. In addition, the tenant's rights in the realty as well as any money deposited by the tenant may be forfeited.
The accounts payable in money division performs all bookkeeping related to money owed by the hotel to vendors and employees. Payroll checks and cash disbursements—payments for operating expenses, such as utilities, telephone, supplies, and so forth—are produced by this staff.
Individual benefits payable in money under national assistance were set at about the levels of those payable in money under national insurance, but in practice they have marginally exceeded the latter in most years. There are several reasons for this. Under national assistance, dependent child allowances are graded according to the child's position in the family, whereas under national insurance they vary according to the number of children in the family—and families generally have been small. |
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