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The concept of acceleration most often arises within the context of contract law. An acceleration clause , also known as an acceleration covenant , may be included within a contract, so as to fully mature the performance due from a party upon a breach of the contract, such as by requiring payment in full upon the contract if a borrower ...
Term used in contract law to specify terms that are voided or confirmed in effect from the execution of the contract. Cf. ex nunc. Ex turpi causa non oritur actio: ex nunc: from now on Term used in contract law to specify terms that are voided or confirmed in effect only in the future and not prior to the contract, or its adjudication. Cf. ex ...
The following pages contain lists of legal terms: List of Latin legal terms; List of legal abbreviations; List of legal abbreviations (canon law) on Wiktionary: Appendix: English legal terms; Appendix: Glossary of legal terms
The term is usually used in relation with periodically-recurring payments such as rent, bills, royalties (or other contractual payments), and child support. Payment in arrear is a payment made after a service has been provided, as distinct from in advance, which are payments made at the start of a period. [ 2 ]
In accrual accounting, the term accrued revenue refers to income that is recognized at the time a company delivers a service or good, even though the company has not yet been paid. Likewise, the term accrued expense refers to liabilities that are recognized when a company receives services or goods, even though the company has not yet paid the ...
Glossary of Legal Terms and Phrases. The Army Service Schools, Department of Law. 1910. Google Books. Tayler. The Law Glossary. Ninth Edition. 1889. Google Books; Frederic Jesup Stimson. Glossary of Technical Terms, Phrases, and Maxims of the Common Law. Little, Brown and Company. Boston. 1881. Google Books; J Kendrick Kinney. A Law Dictionary ...
Examples would include accrued wages payable, accrued sales tax payable, and accrued rent payable. There are two general types of Accrued Liabilities: Routine and recurring; Infrequent or non-routine; Routine and recurring Accrued Liabilities are types of transactions that occur as a normal, daily part of the business cycle. [2]
A legal terminology textbook is a textbook that arranges and defines legal words and phrases in groups and by topic, in contrast with a law dictionary, which arranges and defines legal words and phrases individually and in alphabetical order. Thus, it may be more suitable for a student or other person interested in understanding an array of ...