Ab initio is a Latin term that means "from the beginning” or “from inception.” Ab initio is used to indicate that some fact existed from the start of a relevant time period. It is often used as part of the phrase “void ab initio,” meaning...
contracts
abandoned application
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 and Trademark Office when the applicant (either directly or...
abate
To abate means to eliminate or to nullify.
This verb usually arises in the context of abatement.
[Last updated in October of 2024 by the Wex Definitions Team]
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:...
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. Secretary of State that “an existing constitutional...
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:
§ 9-610 of the Uniform Commercial Code (UCC) codifies the...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....
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 typically invoked when a borrower materially...
accept
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).
To...
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...