An abatement clause is defined as a provision in a lease agreement that releases the tenant from paying rent if an act of God makes occupancy impossible or otherwise precludes the property from being used.
See also:...
COMMERCE
Abercrombie classification
Abercrombie classification, taking its name from the case Abercrombie & Fitch Co. v. Hunting World Inc., refers to a system designating how generic a given trademark is for the purposes of intellectual property law. This system...
abrogate
To abrogate is to formally annul or repeal a law through an act of legislation, constitutional authority, or custom. For example, the Supreme Court of Michigan explained in Ferency v. Secretary of State that “an existing constitutional...
absolute-bar rule
The absolute bar rule prohibits a creditor who disposes of collateral in a commercially unreasonable manner from obtaining a deficiency judgment.
For example:
§ 9-610 of the Uniform Commercial Code (UCC) codifies the...abuse
Abuse is an action that intentionally causes harm or injures another person. This can refer to physical abuse, psychological abuse, mental abuse, or child abuse (see below).
Abuse is also to misuse something - e.g., abuse...
abusive discharge
Abusive discharge is a terminated employee’s claim that their termination breached some public policy of the state. Abusive discharge claims are often brought when no claim for breach of contract or violation of a statute can be alleged....
accelerated depreciation
Accelerated depreciation is any method of depreciation where the business depreciates a greater proportion of an asset’s value earlier in its life. A common accelerated depreciation method is MACRS. Compare with straight-line depreciation...
accelerated filer
Accelerated filer is a class of reporting company which has shorter deadlines to file their periodic reports.
Securities and Exchange Commission (SEC) Rule 12b-2 establishes the requirements that a company must satisfy to...
acceleration
Acceleration means the advancing of a loan agreement's maturity date so that payment of the entire debt is due immediately. In Analytical Surveys Inc. v. Tonga Partners, L.P., United States Court of Appeals, Second Circuit stated that “‘...
acceleration clause
An accelerated clause is a term in a loan agreement that requires the borrower to pay off the loan immediately under certain conditions. An accelerated clause is typically invoked when the borrower materially breaches the loan agreement....