Acceleration. A contract clause that requires payment of the full amount of the debt owed if a payment is missed or another triggering event (such as bankruptcy of the debtor) occurs. This type of clause often appears in promissory notes or loan agreements.
Accounts Payable. Trade accounts of businesses representing amounts owed for goods or services received.
Accounts Receivable. Trade accounts of businesses representing amounts due for goods sold or services rendered.
Accounting. The recording, classifying, summarizing, and interpreting of events of a financial character. These events can include income, expenses, and cash flow.
Accrual-Basis Accounting. An accounting system in which income is recorded when it is earned rather than when it is paid, and expenses are recorded when an obligation is established rather than when the money is paid.
Addendum. An attachment or exhibit to a written document, such as a contract.
Agent. A person granted the authority to act on behalf of another person or entity, known as the "principal." The actions and decisions of the agent can be binding on the principal.
Age Discrimination in Employment Act (ADEA). A federal law that prohibits employers from discriminating against individuals age 40 or more. This law generally applies to companies with 20 or more employees.
Alternative Dispute Resolution (ADR). An approach to conflict resolution designed to avoid court proceedings. ADR traditionally encompasses two main forms: arbitration and mediation.
Americans with Disabilities Act (ADA). A federal law that prohibits discrimination against those with physical or mental disabilities in employment, public services and public places, such as restaurants, hotels and shops. The ADA requires companies with 15 or more employees to make reasonable accommodations to enable qualified disabled employees to perform their job.
Amortization. Paying off debt in regular installments over a period of time, or deducting certain capitalized expenditures over a specified period of time.
Appreciation. The increase in the value of an asset.
Arbitration. A form of alternative dispute resolution in which a neutral third party (an arbitrator) considers the competing parties´ arguments and evidence and renders a decision or award. Arbitration can be binding or non-binding.
Asset. Anything that an individual or an entity owns that has value. Cash, equipment and stocks are all considered assets.
Assign. To give or sell a right or an interest. The person who receives the right or interest is the "assignee" and the person making the transfer is the "assignor."
At-Will Employment. The policy allowing employers or employees to end an employment relationship at any time for any reason -- or for no reason at all. In some states, the law may place practical limits on this policy.
Audit. A review or examination of an individual´s or organization´s records to determine legal compliance or proper record keeping.
Award. A decision rendered by a court or arbitrator that one party in a dispute is owed money and that the other party or parties are liable. paid
Accounts Payable. Trade accounts of businesses representing amounts owed for goods or services received.
Accounts Receivable. Trade accounts of businesses representing amounts due for goods sold or services rendered.
Accounting. The recording, classifying, summarizing, and interpreting of events of a financial character. These events can include income, expenses, and cash flow.
Accrual-Basis Accounting. An accounting system in which income is recorded when it is earned rather than when it is paid, and expenses are recorded when an obligation is established rather than when the money is paid.
Addendum. An attachment or exhibit to a written document, such as a contract.
Agent. A person granted the authority to act on behalf of another person or entity, known as the "principal." The actions and decisions of the agent can be binding on the principal.
Age Discrimination in Employment Act (ADEA). A federal law that prohibits employers from discriminating against individuals age 40 or more. This law generally applies to companies with 20 or more employees.
Alternative Dispute Resolution (ADR). An approach to conflict resolution designed to avoid court proceedings. ADR traditionally encompasses two main forms: arbitration and mediation.
Americans with Disabilities Act (ADA). A federal law that prohibits discrimination against those with physical or mental disabilities in employment, public services and public places, such as restaurants, hotels and shops. The ADA requires companies with 15 or more employees to make reasonable accommodations to enable qualified disabled employees to perform their job.
Amortization. Paying off debt in regular installments over a period of time, or deducting certain capitalized expenditures over a specified period of time.
Appreciation. The increase in the value of an asset.
Arbitration. A form of alternative dispute resolution in which a neutral third party (an arbitrator) considers the competing parties´ arguments and evidence and renders a decision or award. Arbitration can be binding or non-binding.
Asset. Anything that an individual or an entity owns that has value. Cash, equipment and stocks are all considered assets.
Assign. To give or sell a right or an interest. The person who receives the right or interest is the "assignee" and the person making the transfer is the "assignor."
At-Will Employment. The policy allowing employers or employees to end an employment relationship at any time for any reason -- or for no reason at all. In some states, the law may place practical limits on this policy.
Audit. A review or examination of an individual´s or organization´s records to determine legal compliance or proper record keeping.
Award. A decision rendered by a court or arbitrator that one party in a dispute is owed money and that the other party or parties are liable. paid
