Accelerate - Law Dictionary Search Results
Home Dictionary Name: accelerateaccelerate
accelerate -at·ed -at·ing vt : to bring about at an earlier time: as a : to advance (the maturity date of a security agreement) so that payment of the debt in full is due immediately see also acceleration clause b : to cause (a future interest in property) to vest by removing the preceding interests (as by failure or premature termination) vi : to enforce an acceleration clause [held that the creditor's right to was suspended "J. J. White and R. S. Summers"] ac·cel·er·a·tion n ...
acceleration clause
acceleration clause : a clause (as in a loan agreement) that accelerates the date of payment in full under specified circumstances (as default by the debtor) ...
loan acceleration
loan acceleration an acceleration clause in a loan document is a statement in a mortgage that gives the lender the right to demand payment of the entire outstanding balance if a monthly payment is missed. Source: U.S. Department of Housing and Urban Development ...
mortgage acceleration clause
mortgage acceleration clause a clause allowing a lender, under certain circumstances, demand the entire balance of a loan is repaid in a lump sum. The acceleration clause is usually triggered if the home is sold, title to the property is changed, the loan is refinanced or the borrower defaults on a scheduled payment. Source: U.S. Department of Housing and Urban Development ...
Particle accelerator
A large and expensive scientific instrument used by physicists to accelerate elementary particles such as protons or electrons to speeds near that of light for the purpose of investigating the fundamental properties of matter sometimes also called an atom smasher since the particles thus accelerated are often directed at targets of atoms which are fragmented by the impact into their more fundamental component particles...
Accelerated Cost Recovery System
Accelerated Cost Recovery System : a method of calculating depreciation introduced in the Economic Recovery Tax Act of 1981 that results in faster recovery of costs for property put into service after 1980 by assigning it a shorter useful life than that previously allowed by the tax code ...
accelerated depreciation
accelerated depreciation see depreciation ...
acceleration
acceleration the right of the lender to demand payment on the outstanding balance of a loan. Source: U.S. Department of Housing and Urban Development ...
Acceleration
Acceleration, the shortening of the time for the vesting in possession of an expectant interest....
depreciation
depreciation 1 : any decrease in the value of property (as machinery) for the purpose of taxation that cannot be offset by current repairs and is carried on company books as a yearly charge amortizing the original cost over the useful life of the property accelerated depreciation : the depreciation of property that was put into use prior to 1980 which is allowed at a faster rate than normal under the depreciation rules in force before the adoption of the Accelerated Cost Recovery System straight-line depreciation : depreciation of an asset by a fixed percentage of its original cost based on its estimated life 2 : a loss in the value of property due to physical deterioration and wear or to obsolescence and lack of adaptability ...
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