Margin Account - Law Dictionary Search Results

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margin account

An account with a securities brokerage in which the broker extends credit...

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 ...

Marginal note

Marginal note, an abstract of a reported case, a summary of the facts, or brief statement of the principle decided, which is prefixed to the report of the case, usually in the earlier reports placed in the margin, and corresponding to the head-notes of later times and the present day 'marginal notes are often conveniently appended to documents of any kind.The marginal notes which appear in the statute-books as printed by the King's Printers have not the authority of the legislature, and cannot alter the interpretation of the text. See Claydon v. Green, (1868) LR 3 CP 5, per Willes, J.; Sutton v. Sutton, (1882) 22 Ch D 5, per Jessel, M.R. In the Revised Statutes they have been revised throughout to make them in accordance with the text; and in Chitty's Statutes of Practical Utility they have been much added to, abridged, or altered.In some private Acts of Parliament the marginal notes may form part of the Act, Re Working, etc., Act, 1911 (1914) 1 Ch 300, per Phillimore, LJ....

Account or Accompt

Account or Accompt [fr. compte, Fr., computo, Lat.], a registry of debts, credits, and charges, or a detailed statement of a series of receipts (credits) and disbursements (debits) of money-which have taken place between two or more persons. Accounts are either-(1) open, where the balance is not struck, or it is not accepted by all the parties; (2) stated, where it has been expressly or impliedly acknowledged to be correct by all the parties; and (3) settled, where it has been accepted and discharged. Stated and settled accounts may be investigated and reopened by the Court on the ground of fraud or fiduciary relationships. See SURCHARGE and FALSIFY.Companies under the Companies Act, 1929, must keep proper books of account, and present to the company in general meeting not less than 18 months after incorporation and subsequently at least once in every year a profit and loss account and balance sheet, to copies of which shareholders of all companies, except private companies, are entitl...

Account stated

Account stated, An account stated is the admission of a balance due from one party to another, and that balance being due there is a debt; the statement of the account and the admission of the balance implies a promise in law to pay it; see Irving v. Veitch, (1837) 3 M&W 106. The account must have been stated before action brought. An account stated, however, creates only a prima facie liability, which may be rebutted by disputing the debts charged in the account, as, for instance, by proving mistake (among other ordinary defences); Camillo Tank Steamship Co. v. Alexandria Engineering Works, (1921) 38 TLR 134. For statutory power to re-open an account stated, see MONEY LENDERS ACT. By the Infants Relief Act, 1874 (37 & 38 Vict. c. 62), s. 1, an account stated with an infant is void.The expression 'account stated' has more than one meaning. It sometimes means a claim to payment made by one party and admitted by the other to be correct. There is, however, a second kind of account stated ...

Accountant or Accomptant

Accountant or Accomptant, one whose business it is to compute, adjust, and range in due order accounts; also to audit accounts. The Institute of Chartered Accountants in England and Wales was incorporated by Royal Charter, May 11th, 1880. No person is entitled to describe himself as a chartered accountant unless he is a member of an Institute of Accountants incorporated in the United Kingdom by Royal Charter; see Society of Accountants in Edinburgh v. Corporation of Accountants Ltd. (1893) 20 R 750; Society of Accountants and Auditors v. Goodway, (1907) 1 Ch 489....

Book of account

Book of account, It involves either addition or subtraction or both of these operations of arithmetic. A book which contains successive entries of items may be a good memorandum book; but until those entries are totalled or balanced, or both, as the case may be, there is no reckoning and no account. In the making of totals and striking of balances from time to time lies the chief safeguard under which books of account have been distinguished from other private records as capable of containing substantive evidence on which reliance may be placed', CBI v. V.C. Shukla, (1998) 3 SCC 410: AIR 1998 SC 1406: 1998 Cr LJ 1905 (SC).-All companies registered under the (English) Companies Act,1929, are by s. 122 obliged to keep books of account of (a) all receipts and expenses with matters relating thereto; (b) all sales and purchases; and (c) the assets and liabilities of the company: these books are to be open to inspection by the directors-heavy penalties for non-compliance are imposed. The aud...

margin

margin 1 : the difference between net sales and the cost of the merchandise sold from which expenses are usually met or profits derived 2 : the amount by which the market value of collateral is greater than the face value of a loan 3 a : cash or collateral deposited in a regulated amount by a client with a broker who is financing the purchase of securities see also regulation t b : a deposit made with a broker by a client who is trading in futures ...

margin stock

margin stock see stock ...

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