law and economics

Abuse

Definition

1) Abuse, generally: physically, sexually, or mentally injuring a person.

2) Child abuse: physically, sexually, or mentally injuring a child either with intent or through neglect.

3) Substance abuse: excessively using or misusing...

Accelerated Depreciation

Definition

Any method of depreciation used by businesses for accounting or tax purposes that allows greater deductions in the earlier years of the life of a company asset, as opposed to the straight-line depreciation method.

Accelerated...

Acceleration Clause

Definition

An accelerated clause is a term in a loan agreement that requires the borrower to pay off the loan immediately under certain conditions.

Overview

An accelerated clause is typically invoked when the borrower materially breaches the loan...

Account

Definition

Within the context of secured transactions under Article 9 of the Uniform Commercial Code, this refers to a right to payment of a monetary obligation. Not included: (1) letters of credit, (2) commercial tort claims, (3) deposit accounts, (4...

Account Stated

Definition

A statement between a creditor and a debtor that settles the total amount of debt owed to the creditor.

There are three elements of an account stated: (1) There exists prior transactions between the parties, creating a creditor-debtor...

Accountant

Definition

A professional who engages in accounting, which involves preparing and auditing financial statements, bookkeeping and financial analysis.

An accountant may also be qualified to give individuals or corporations tax advice and prepare...

Accounting

Definition

1) The procedure of recording, analyzing, summarizing and classifying the financial transactions and information of a person or business which aids in accurate administration of resources.

2) A plaintiff's legal action to recover money...

Accounts Payable

Definition

Short-term debt that a company owes to its suppliers for products received before payment is made. Accounts payable entries are listed under "Current Liabilities" in the business' balance sheet and the items are removed once the account has...

Accounts Receivable

Definition

Money owed to a business by another business or individual in exchange for property or services that were provided on credit. The settlement of an account receivable begins by sending an invoice to the customer. A company enters accounts...

Accredited Investor

Under federal law, no securities may be sold or offered for sale unless they are registered, or there is an exception. An accredited investor is one such exemption: certain high-net-worth individividual, as defined in Rule 501 of Regulation D who may...

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