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No, you aren't. Unless he was on contract for the year, the salary for the rest of the year won't be paid in full if the employee leaves or is fired, for exampl

No, you aren't. Unless he was on contract for the year, the salary for the rest of the year won't be paid in full if the employee leaves or is fired, for example. A loan is the opposite.

karpierz 6y ago
You may not be required to pay the full loan if your company goes bankrupt. A loan is a series of scheduled payments which are likely but not guaranteed to happen.
LatteLazy 6y ago
Sorry to be blunt but... you're sort of wrong twice: * EVEN IF he has a contract for the year, there would still be 1001 things that might happen between then and now that mean he isn't actually due payment (company bankruptcy, his death etc). That's why he cannot keep the money. * And that is exactly the same position that Revlon\Brigade are in: Brigade are no more SURE they will get paid or that Revlon will even be legally required to pay them...
- URSpider94 6y ago
  There’s a difference between obligation and payment terms. I undoubtedly owe my mortgage lender for the full amount of the loan on my house. I can choose whether to just pay the monthly payment, or I can pay more at any time, up to the full outstanding principal. If I send my lender a bigger check, they’ll gladly cash it and apply it to the principal, and I don’t think I’d have any luck in asking for the money back. It’s implicit with most loans that the borrower can pre-pay ahead of the payment schedule at any time. For my salary, my employer’s obligation is only for the past two weeks of work. Any overpayment on their part would be due back to them immediately.
  - cameldrv 6y ago
    I'm pretty sure if you could show that your bank made a mistake and transferred them 10x your mortgage payment, that they would give it back.
    - true_religion 6y ago
      Probably. However if you pay off your mortgage by accident, they won't just give you back the money. They might also be uninterested in giving you a new mortgage if you are already declaring bankruptcy.

No, you aren't. Unless he was on contract for the year, the salary for the rest of the year won't be paid in full if the employee leaves or is fired, for example. A loan is the opposite.

karpierz 6y ago

You may not be required to pay the full loan if your company goes bankrupt. A loan is a series of scheduled payments which are likely but not guaranteed to happen.

LatteLazy 6y ago

Sorry to be blunt but... you're sort of wrong twice: * EVEN IF he has a contract for the year, there would still be 1001 things that might happen between then and now that mean he isn't actually due payment (company bankruptcy, his death etc). That's why he cannot keep the money. * And that is exactly the same position that Revlon\Brigade are in: Brigade are no more SURE they will get paid or that Revlon will even be legally required to pay them...

URSpider94 6y ago
There’s a difference between obligation and payment terms. I undoubtedly owe my mortgage lender for the full amount of the loan on my house. I can choose whether to just pay the monthly payment, or I can pay more at any time, up to the full outstanding principal. If I send my lender a bigger check, they’ll gladly cash it and apply it to the principal, and I don’t think I’d have any luck in asking for the money back. It’s implicit with most loans that the borrower can pre-pay ahead of the payment schedule at any time. For my salary, my employer’s obligation is only for the past two weeks of work. Any overpayment on their part would be due back to them immediately.
- cameldrv 6y ago
  I'm pretty sure if you could show that your bank made a mistake and transferred them 10x your mortgage payment, that they would give it back.
  - true_religion 6y ago
    Probably. However if you pay off your mortgage by accident, they won't just give you back the money. They might also be uninterested in giving you a new mortgage if you are already declaring bankruptcy.