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

Category: A

ACT OF LAW

A legal event that is caused by the way an individual acts.

ACCEPTABLE RISK

A level of material and human loss involved in the industrial process.

ACCOUNT TYPE

A code an account is given to show its general purpose. It can be savings, checking, or brokerage for example.

ACCOUNTS RECEIVABLE

Trade credit created by a company when it permits a client to pay in the future for goods or services that have already been delivered by the company. A client company is

ACIS

The institue of chartered secretaries and adminstrators associate.

ACT OF STATE

An act exercising power or a country that cannot be overturned by the courts.

ACCEPTANCE

1. Agreements: Two parties agree to the terms of a contract. If it is denied a counter off is made until the agreement is reached. Upon agreement the contract is legally binding

ACCOMMODATION

Placing anothers concerns befor your own to solve an issue. This is a good low stakes move to encourage long term business. Refer to accomodations.

ACCOUNTABILITIES

When a trustee must report all asstes entrusted to them. It is done even if the rules are followed to ensure honesty.

ACKNOWLEDGEMENT

Stating that something is true or factual. When a buyer agrees to pay for their purchase. A message that confirms a communication was recieved. An oath done in public. Ensuring a shipment

ACT OF WAR

An insurance policy that protects against losses incurred from war time conflicts or peace time damages as a result of derelict mines or torpedoes.

AD SERVER

A computer system that has ads on it and maintains them for websites. They track and report statistics to help identify possible customers.

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