commercial law

Accession

Definition

1) In trusts and estates law, assets produced by a devised asset after the execution of a will.

2) In secured transactions law, goods that physically united with other goods in a way that doesn't lose the identity of the original goods...

Accord and Satisfaction

Definition

An agreement (accord) between two contracting parties to accept alternate performance to discharge a preexisting duty between them and the subsequent performance (satisfaction) of that agreement. An accord and satisfaction differs from a...

Account Stated

Account stated refers to a document summarizing the amount a debtor owes a creditor, and account stated is a cause of action in many states that allows a creditor to sue for payment. In many business contexts, creditors and debtors have lots...

Accounts Payable

Accounts payable is short-term debt that a company owes to its suppliers for products received before a payment is made. Accounts payable may be abbreviated to “AP” or “A/P.” Accounts payable may also refer to a business department of a...

Accredited Investor

Under federal law, an accredited investor is a special kind of investor that due to certain special circumstances or qualities - as the ones indicated in Rule 501 of Regulation D - is allowed to purchase or be offered to purchase unregistered...

Accrue

Accrue means:

the accumulation of interest, income, or expenses. when a legal cause of action or legal claim comes into existence. The U.S. Supreme Court in Wallace v. Kato, 549 U.S. 384, 388 (2007), stated that a claim accrues “...

Accumulated Earnings

Accumulated Earnings represent a company’s net profit after having distributed dividends to the stockholders. It is a term that is often used in accounting to determine how much net profits a company has left after having paid dividends. In...

Actual Damages

Overview

In tort law, actual damages is a type of damages which refers to compensation awarded by a court in response to a loss suffered by a party.

The Supreme Court held in Birsdall v. Coolidge, 93 U.S. 64 (1876) that the phrases "compensatory...

Addendum

An addendum is an addition to a finished document, such as a contract. The most common addendum is an attachment or exhibit at the end of such a document. For example, a contract to manufacture widgets may have an addendum listing the...

Adhesion Contract

A standard-form contract drafted by one party and signed by another in a weaker position. The signing party is typically a consumer with little commercial leverage, and must either reject the deal or accept it with little chance to influence the terms...

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