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A/R
Definition
Abbreviation for accounts receivable.
Abandoned Application
Definition
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 through his attorney or agent)...
Abate
Abatement
Abrogate
Definitions
To formally annul or repeal a law through an act of the legislature, constitutional authority, or custom. In contract and insurance law, it is to rescind or terminate a contract.
In constitutional law, the abrogation doctrine...
Absolute-Bar Rule
Definition
A rule preventing a creditor who sells collateral in a commercially unreasonable manner, e.g. without giving reasonable notice to the debtor, from obtaining a deficiency judgment.
Illustrative caselaw
See, e.g. Beardmore v. American...
Abusive Discharge
Definition
A fired employee's claim that the firing 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. Instead of relying on an employment...
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
See also Acceleration Clause
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...
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