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

ARTWORK

A work or illustration that can be a drawing, letter, painting, or photographs. It is made to be reproduced by its instructions and color specifications.

AS IS

A clause stating that an item is bought with no warranty. The buyer takes the item as it is with any apparent or nonapparent faults.

AS OF DATE

1. payment terms on an invoice that require repayment on a different date than the creation of said invoice. 2. the date when an aggreement becomes official. 3. date when data is

ASBESTOS

A fiber that gets hard with age and pollutes the environment with its fine particles. It causes illness and cancer. It is in ceiling tiles, insulation, patching compounds, shingles, paint, flooring, and

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.

ASEPTIC

The state of being sterilized in a small area to reduce exposure.

A-SHARE

This share of stock features rental rights but no control rights over the company. The lack of authority generally provides a discount in price

ASKED PRICE

The lowest price a seller will take for a security. It is used in wholesale sales. The general public may not have this price. AKA asking price, ask price, offered price, offering

ASPIRATION

1. sucking up a fluid. 2. taking a liquid into the lungs while swallowing or being sick.

ASSET

A financial contract or physical object with value that is owned by an individual, company, or sovereign, which can be used to generate additional value or provide LIQUIDITY. Assets are credits to

ASSET/EQUITY RATIO

The amount of revenue a company has. The total revenue and the amount a shareholder gets is used to reach this ratio.

ASSIMILATION

Buying the whole new issue by public buyers. If underwriters do this its called absorption.

ASSISTANT

An employee that helps someone with higher rank than them intheir activities.

ASSOCIATE COMPANY

A firm that another firm controls. At least 20% of shares are usually used for this. The directories are interlocked to make sure a common policy and similiar objectives are in place.

ASSOCIATED

1. to be connected to another party or business. 2. when molecules are held together by a common bond.

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This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.