De facto corporation refers to the legal recognition of a corporation, even if the articles of incorporation for a corporation are not properly filed. In other words, a corporation may be said to have de facto corporate status by...
business organizations
de jure corporation
A de jure corporation is a corporation whose legal right to exist cannot be questioned even by the state. De jure is a Latin term that means “by right” or “rightfully such.” Ordinarily, a de jure corporation is established by complying with...
dealer
A dealer has two common definitions in the legal context:
A retailer who purchases goods or services for resale to consumers in a principal capacity. In securities law, a person who functions at least part time as an agent, broker, or...debtor
A debtor is someone who owes a debt or obligation to someone else. Most commonly, this is the obligation to pay money. A classic example is within the situation where a bank extends a loan to an individual or business entity, creating the...
debtor and creditor
Debtor-creditor law governs situations where one party, known as the debtor, is unable to pay a monetary debt to another, known as the creditor. Debtor-creditor law typically plays out through bankruptcy proceedings.
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deductible business expense
Deductible business expense is a very broad category of deductions allowed for businesses because the Internal Revenue Service (IRS) tries to tax business profits, not revenue. Deductible business expenses has been given a broad definition...
defeasance
Defeasance can be best described as an annulment or abrogation. This term is used more in property law where it can mean terminating an estate or status with a conditional limitation. In other words, defeasance means a condition in which...
deficit
Deficit broadly refers to a person or entity having more expenses than revenue. Typically deficit is used to refer to finances of a company or government where the entity is spending more money than it makes, having to borrow money to cover...
depreciable asset
Depreciable asset is generally an asset used for generating income or profit and has a useful life of more than a year and gradually reduces in value over time. It is a type of physical asset that is capable of depreciation treatment under...
depreciation reserve
Depreciation reserves are funds established by a business for expensive items that depreciate overtime and must be replaced. The business puts money into the reserve every year according to the amount the item depreciates and its salvage...