Current Assets - Law Dictionary Search Results
Home Dictionary Name: current assets Page: 2nonperforming asset
nonperforming asset an asset such as a mortgage that is not currently accruing interest or which interest is not being paid. Source: U.S. Department of Housing and Urban Development ...
open-end
open-end : organized to allow for contingencies: as a : permitting additional debt to be incurred under the original debt instrument subject to specified conditions see also open-end mortgage at mortgage b : having fluctuating capitalization of shares that are issued or redeemed at the current net asset value or at a figure in fixed ratio to this [an investment company] compare closed-end c : calling for the filling by a particular contractor of all government needs for a specific product during a specified period [an contract] ...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
stock
stock 1 a : the equipment, materials, or supplies of a business b : a store or supply accumulated ;esp : the inventory of the goods of a merchant or manufacturer 2 : the ownership element in a corporation usually divided into shares and represented by transferable certificates ;also : the certificate evidencing ownership of one or more shares of stock capital stock 1 : the stock that a corporation may issue under its charter including both common and preferred stock 2 : the outstanding shares of a joint stock company considered as an aggregate 3 : capitalization common stock : a class of stock whose holders share in company profits (as through dividends) on a pro rata basis, may vote for directors and on important matters such as mergers, and may have limited access to information not publicly available cumulative preferred stock : preferred stock whose holders are entitled to the payment of cumulative dividends as well as current dividends before common stockholders are ...
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 ...
Claim
Claim [fr. clamer, Fr.; clamo,Lat., to call], a challenge of interest of anything which is in another's possession, or at least out of a man's own possession, as claim by charter, descent, etc., Plow, 359 a. Any assertion of a right to a remedy, relief or property, either general, or before a tribunal, a pleading in an action, see County Courts Act, 1934, and STATEMENT OF CLAIM.Means 'a demand for something as due' or 'to seek or ask for on the ground of right', Hameedia Hardware Stores v. B. Mohan Lal Sowcar, (1988) 3 SCR 384: (1988) 2 SCC 513: AIR 1988 SC 1060 (1068). [T.N. Buildings (Lease and Rent Control) Act (18 of 1960), s. 10 (3)(a)(iii)]1. The aggregate of operative facts giving rise to a right enforceable by a court. 2. The assertion of an existing right, Black's Law Dictionary, 7th Edn., p. 240.Claim, the natural construction of the words taken in context is that 'claim' is referring to an order for costs in the current proceedings against the claimant, rather than a hypothe...
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