commercial transactions

A/R is the abbreviation for accounts receivable.

[Last reviewed in June of 2022 by the Wex Definitions Team]

An “abandoned application” refers to the abandonment of a patent or trademark application.  An application is removed from the docket of pending applications at the U.S.

• patent law

Abandoned property is personal property that was left by an owner who intentionally relinquishes all rights to its control.  Real property may not be abandoned (see also adverse possession).

• property law
• personal property

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

• property

The absolute bar rule prohibits a creditor who disposes of collateral in a commercially unreasonable manner from obtaining a deficiency judgment. 

For example:

Accelerated filer is a class of reporting company which has shorter deadlines to file their periodic reports. 

To accept means to receive something with approval (i.e., consent). This usually arises in the context of accepting a payment that is late or not complete, or accepting delivery of legal papers (acceptance of service).

Acceptance means to assent to the terms of an offer. Some common uses of the term “acceptance” in a legal sense include: 

Accession has several specialized meanings in legal contexts.

• trusts and estates

Accord and satisfaction occurs when there is an agreement (accord) between two parties (an obligor and an obligee) for alternative performance to discharge a