Accept means to receive something with approval (i.e., consent) and intention to keep it. This use usually arises in the context of accepting a payment which is late or not complete, or accepting the service (delivery) of legal papers.
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acceptance
Acceptance means to assent to the terms of an offer. Some common uses of the term “acceptance” in a legal sense include:
In the context of contracts, acceptance refers to one person’s compliance with the terms of an offer made by...accession
Accession is prominent in two legal practice areas; trusts and estates, and secured transactions.
Accession in trusts and estates law are assets produced by a devised asset after the execution of a will. For example, ordinary...accommodation
An accommodation is a means of providing assistance or convenience for a person, and the practice of modifying objects and situations to the benefit or needs of another person. Originally, accommodation meant a loan or other financial favor....
accord
Accord has three major definitions:
A harmonious agreement, especially between countries. An offer to substitute a different obligation for one that was previously owed, plus the acceptance of that offer. Either of the parties...accord and satisfaction
Accord and satisfaction refers to the agreement (accord) between two contracting parties to accept alternate performance to discharge a pre-existing duty between them and the subsequent performance (satisfaction) of that agreement. The new...
account
An account, within the context of secured transactions, is defined under Article 9 of the Uniform Commercial Code, as a right to payment of a monetary obligation. Not included: (1) letters of credit, (2) commercial tort claims, (3) deposit...
account debtor
An account debtor is someone who owes an obligation by virtue of an account, chattel paper, or general intangible.
See, e.g. Nickey Gregory Co., LLC v. AgriCap, LLC, 597 F.3d 591 (4th Cir. 2010).
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account receivable
Accounts receivable (abbreviated A/R) is money owed to a business by another business or individual in exchange for property or services that were provided on credit. The settlement of an account receivable begins by sending an invoice to the...
account stated
Account stated refers to a document summarizing the amount a debtor owes a creditor. An account stated is also a cause of action in many states that allows a creditor to sue for payment. In many business contexts, creditors and debtors have...