ACADEMIC TOPICS

ABA

Definition

An abbreviation for American Bar Association. See American Bar Association (ABA).

See alsoAmerican Bar Association

Abuse

Definition

1) Abuse, generally: physically, sexually, or mentally injuring a person.

2) Child abuse: physically, sexually, or mentally injuring a child either with intent or through neglect.

3) Substance abuse: excessively using or misusing...

Abuse Excuse

Definition

A self-defense claim that a defendant is incapable of distinguishing between right and wrong or of controlling his or her impulses as a result of being subjected to prolonged physical or mental abuse, i.e. as a result of, inter alia, battered...

Abuse of Discretion

Definition

A standard of review used by appellate courts to review decisions of lower courts. The appellate court will typically find that the decision was an abuse of discretion if the discretionary decision was made in plain error.

Overview

The...

Accelerated Depreciation

Accelerated depreciation is any method of depreciation where the business depreciates a greater proportion of an asset’s value earlier in its life. A common accelerated depreciation method is MACRS. Compare with straight-line depreciation...

Acceleration Clause

Definition

An accelerated clause is a term in a loan agreement that requires the borrower to pay off the loan immediately under certain conditions.

Overview

An accelerated clause is typically invoked when the borrower materially breaches the loan...

Acceptance of Service

Definition

Agreement by the defendant (or the defendant's attorney) to accept papers or a complaint without having the papers served by a process server or a sheriff. Acceptance of service is accomplished by signing a "receipt and acknowledgment of...

Account

Definition

Within the context of secured transactions under Article 9 of the Uniform Commercial Code, this refers to a right to payment of a monetary obligation. Not included: (1) letters of credit, (2) commercial tort claims, (3) deposit accounts, (4...

Account Stated

Definition

A statement between a creditor and a debtor that settles the total amount of debt owed to the creditor.

There are three elements of an account stated: (1) There exists prior transactions between the parties, creating a creditor-debtor...

Accountant

An accountant is a trained professional who has satisfied the statutory and administrative requirements under applicable law to practice as a licensed public accountant. These requirements vary from State to State. The accountant is...

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