Accord has three major definitions:
A harmonious agreement, especially between countries. An offer to substitute a different obligation for one that was previously owed, plus the acceptance of that offer. Either of the parties...business sectors
accord and satisfaction
Accord and satisfaction refers to the agreement (accord) between two contracting parties to accept alternate performance to discharge a pre-existing duty between them and the subsequent performance (satisfaction) of that agreement. The new...
account debtor
An account debtor is someone who owes an obligation by virtue of an account, chattel paper, or general intangible.
See, e.g. Nickey Gregory Co., LLC v. AgriCap, LLC, 597 F.3d 591 (4th Cir. 2010).
[Last updated in...
account receivable
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 the...
accounting
Accounting is the practice of accurately and timely recording, analyzing, summarizing, and classifying financial transactions of a business. Commonly, those financial transactions are recorded in a set of financial records called financial...
accounts receivable
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...
accredited investor
Under federal law, an accredited investor is a special kind of investor that due to certain special circumstances or qualities - as the ones indicated in Rule 501 of Regulation D - is allowed to purchase or be offered to purchase unregistered...
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...
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...
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...