Building and loan associations were organizations that provided loans to members for buying homes. The organizations were formed by a community of low income members that made regular payments into the fund. Members owned shares in the organization where they have rights to a loan at some point in time or dividends.
Business expenses are the operating costs of a business. Whether a given cost qualifies as a business expense is relevant because business expenses are tax deductible while other forms of expenses are not. To qualify as a business expense, the cost must be ordinary, accepted and common in that business' trade and necessary, appropriate, and useful in operating the business.
A buyback refers to when a corporation repurchases its own outstanding stock. By doing so, the number of overall shares in the market drops and the value of each individual share tends to increase. Issuing a buyback offer is not binding on any individual shareholders and merely represents the corporation's offer to purchase shares at a given price.
An accounting period shows when an account cycle begins and ends. It is an established time frame within which accounting functions are performed, summarized, and analyzed for the calculation of all annual financial information such as income taxes.
Call generally means to request or to use an option. Call has a few different meanings that arise in the legal context:
A call option (often shortened to call) is a contract that allows its owner to buy an asset or service from the seller at a certain price until a certain date. The buyer never has to purchase the assets, and the option will terminate at the specified date. People pay for call options because they offer chances of profit or safety in price, and a seller benefits if the assets sold fall in price after selling the call option.
Campaign finance law regulates the funding, advertisement, accounting, and procedures involving campaigns and their organized efforts to achieve political goals. Federal elections must abide by numerous types of limitations on contributions and reporting obligations intended to balance between First Amendment rights and providing an open election.
In a legal context, to cancel is to render something otherwise valid as void or no longer in effect. For example, a person might write a check and then destroy it or write “void” across its face; both would successfully eliminate the check’s ability to serve as legal tender. A person might also cancel an otherwise binding contract.
