The Life of Gallegos 492

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What is a Legal Demand for payment of debt?

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A financial institution's statutory demand for payment of financial debt is an official demand for settlement of a financial obligation owed by a company.

Legal demands are released according to Component 5.4 of the Firms Act 2001 (Cth).

A statutory demand is sustained by a money order judgment or an affidavit attesting that the debt schedules and also payable as well as there is no authentic disagreement about the existence or amount of the financial obligation.

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