abatement clause
An abatement clause is defined as a provision in a lease agreement that releases the tenant from paying rent if an act of God makes occupancy impossible or otherwise precludes the property from being used.
See also: Abatement
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COMMERCE
Abercrombie classification
Abercrombie classification, taking its name from the case Abercrombie & Fitch Co. v. Hunting World Inc., is a system designating how distinct a given trademark is for the purposes of intellectual property law.
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abrogate
To abrogate is to formally annul or repeal a law through an act of legislation, constitutional authority, or custom. For example, the Supreme Court of Michigan explained in Ferency v.
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absolute-bar rule
The absolute bar rule prohibits a creditor who disposes of collateral in a commercially unreasonable manner from obtaining a deficiency judgment.
For example:
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abuse
Abuse is an action that intentionally causes harm or injures another person. This can refer to physical abuse, psychological abuse, mental abuse, or child abuse (see below).
Abuse is also to misuse something—e.g., abuse of process.
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abusive discharge
Abusive discharge is a terminated employee’s claim that their termination breached some public policy of the state. Abusive discharge claims are often brought when no claim for breach of contract or violation of a statute can be alleged. Thus, the employee attempts to show that
accelerated depreciation
Depreciation is the reduced value of something over time. Accelerated depreciation is any loss of value where the business depreciates (i.e., accounts for the value loss of a fixed asset in tax filings) at a greater proportion of an asset’s expected lifetime value loss earlier in its life.
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accelerated filer
Accelerated filer is a class of reporting company which has shorter deadlines to file their periodic reports.
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acceleration clause
An acceleration clause is a term in a contract (typically a loan agreement) that requires a party to make all payments due under the contract if certain conditions occur. An acceleration clause is typic
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