Accounts receivable (abbreviated A/R) is money owed to a business by another business or individual in exchange for property or services that were provided on credit. The settlement of an account receivable begins by sending an invoice to...
financial events
accretion
Accretion, in law, usually refers to the slow addition of land next to water due to the water’s movement or the increase of beneficiary’s share of a trust due to the actions of another beneficiary.
Accretion from natural...
act of God
An act of God refers to a severe, unanticipated natural event for which no human is responsible. Despite its facial religious connections, the usefulness of the term means “act of God” is frequently used in otherwise secular statutory and...
act of nature
Act of nature, also known as act of God, is an event that is caused solely by the forces of nature without human intervention. Any accident that is not under human control, influence, or human involvement, and is caused purely by the direct,...
adeem
Adeem means to revoke or withdraw a bequest because the bequeathed assets no longer belong to the testator at the time of their death. This occurs when the property that was the subject of a specific bequest is sold, destroyed, given away, or...
ademption
Ademption refers to the destruction or extinction of a testamentary gift because the bequeathed assets no longer belong to the testator at the time of their death. This occurs when the property that was the subject of a specific bequest is...
ademption by extinction
Ademption by extinction refers to when an intended gift of property through a will fails to transfer those property rights because the property as described in the will no longer belongs to the testator when the will takes effect.
...ademption by satisfaction
Ademption by satisfaction occurs when a party gives someone a gift initially intended to be included in their will while that party is still alive. In cases of direct familial relationships, ademption by satisfaction is presumed as...
adjustable rate mortgage (ARM)
Adjustable rate mortgage (ARM) is a type of mortgage where the interest rate changes over time. In contrast, fixed rate mortgages made for 15, 20, or 30 years have a set amount of interest on the loan that does not change. ARMs come in many...
adjustment date
Adjustment date is the date on which a financial term of a contract or transaction is set to change. In real estate, it usually refers to the date on which the interest rate of an adjustable rate mortgage (ARM) changes. An ARM’s interest rate...