wex definitions

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...

Adjourn

To end a meeting.

For example: The court adjourned for the day and everyone went home.

Adjudicate

See: Adjudication

Adjudication

Adjudication refers to the legal process of resolving a dispute or deciding a case. When a claim is brought, courts identify the rights of the parties at that particular moment by analyzing what were, in law, the rights and wrongs of their...

Adjudicative Fact

A fact that is either legally operative or even so important as to be controlling on some question of law. Adjudicative facts are those which concern the parties to some dispute and are helpful in determining the proper outcome in the case.

See...

Adjustable Rate Mortgage (ARM)

A mortgage loan where the interest rate may change in accordance with designated market indicator (such as the LIBOR), as opposed to a set interest rate (such at 6% annually).

Adjusted Basis

Adjusted basis is the cost basis of an asset adjusted for various events during its ownership. It is usually used to calculate an owner’s capital gain or loss for income tax purposes when the property is sold, or to calculate an inheritor’s...

Adjusted Gross Income (AGI)

Definition

Adjusted gross income (AGI) is gross income from taxable sources minus allowable deductions.

Overview

In the equation above, taxable sources can include wages, interest, capital gains, income from retirement accounts, and alimony...

Adjuster

A representative of an insurance company who handles claims; both negotiation and settlement.

Adjustment

Adjustment is a settlement, allowance, or deduction made on a debt or claim that has been objected to by a debtor or creditor in order to establish an equitable arrangement between the parties.

For tax returns, an IRS-...

Pages