Accrual method of accounting is the method used by most large businesses in reporting their liabilities and expected income. The accrual method requires businesses to report all economic transactions, whether liabilities or income “when all...
ACADEMIC TOPICS
accrue
Accrue has two common definitions:
The accumulation of interest, income, or expenses. When a legal cause of action or legal claim comes into existence. The U.S. Supreme Court in Wallace v. Kato, 549 U.S. 384, 388 (2007), stated...accumulated earnings
Accumulated earnings represent a company’s net profit after having distributed dividends to the stockholders. It is often used in accounting to determine how much net profits a company has left after having paid dividends. To calculate...
acknowledgment
Acknowledgement refers to a formal declaration before an official that one has executed a particular legal document. Some common usages of the term “acknowledgement” in a legal sense include:
Cases such as this one from Nebraska,...actual authority
Actual authority is an agent's power to act on behalf of a principal, because such power was expressly or impliedly conferred. Express actual authority is when a principal directly tells the agent that they have the authority to take certain...
actual notice
Actual notice is a notice that is given directly to a party or is personally received by a party informing them of a case that could affect their interests. In case of an actual notice, the notice is served in person as opposed to...
actus reus
Actus reus refers to the act or omission that comprise the physical elements of a crime as required by statute. Actus reus includes only a voluntary affirmative act, or an omission (failure to act), causing a criminally proscribed result.
...ad litem
The Latin translation of ad litem is "for the suit."
Examples:
A guardian ad litem is a guardian (usually a lawyer) appointed by the court to manage the affairs of the ward as they relate to a proceeding or particular...ad seriatim
Ad seriatim is a Latin word meaning one after another or in a series.
For example, a judge delivering an opinion one by one or a court dealing with multiple issues in a certain order.
[Last updated in June of 2022...
ad valorem
Ad valorem translated directly from Latin, means "according to [the] value [of something].” In practical use, the term is used in taxation to designate taxes levied against property, real or personal, at a certain rate based upon the property...