Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: A

AREA CODE

The code in the US for telephone numbers. The first three numbers identify the general location a call is coming from or going to. The first digit must be a number from

ARREARS

A remaining debt or liability after the due date. An example of this would be a loan payment. AKA arrearage.

ASCII

A code developed by the American National Standards Institute. Computers use it to turn text into a format computers can compute in other devices.

ASYMMETRIC RISK EXPOSURE

A mismatch of gain and loss due to value changes of an asset. A wide gap is between loss and gain with a call option.

ATTRIBUTION

Labeling something as either the cause or effect of another item.

AUSTERITY BUDGET

When a budget is decided by the government to reduce deficit. The goal is to cut comsumer spending.

AUTOMATICALLY

1. to use an automated system to perform a function. 2. to act without thinking. Like a reflex.

AVAILABILITY BIAS

When decision makers choose based on a personal experience rather than facts. The reaction is emotional.

AVOIDANCE OF CONTRACT

Cancelling a contract when it cannot be continued or is no longer profitable. The parties are released from their agreements.

ACCIDENT

An unforeseeable and unexpected turn of events that causes loss in value, injury, and increased liabilities. The event is not deliberately caused and is not inevitable. Refer to incident.

ACCOUNTING REFORM

A change in rules that go beyone standard practices. It keeps the economies on a national level. It is used to help globalize standard practices.

AC-DC OPTION

An option in trading that can be called upon at a later date if the owner so chooses. This is also called a hermaphrodite option.

ACRYLICS

Plastics that are sheets or fibers that are made of polymerized amides, esters, and acrylic derivatives.

AD CLICKS

Internet ad term that represents the amount an ad has been clicked on.

ACCELERATION

Acceleration can occur if one party breaches a contract or a term of a contract. Full payment or accelerated payment of a credit account may be required immediately.

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