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...
commercial law
Accession
Definition
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...