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A B C D E F G H I J L M N O P Q R S T U V W Z
selected terms: 355 page 2 of 18
Adjournment
The delay or postponement usually to another time of a meeting or action.
Adjustment Date
"The date on which parties agree that certain financial adjustments will be made to a contract. For example, on the sale of property, there is an adjustment date set which is the time More…
AFFIDAVIT
"A written statement or a declaration of facts, sworn or affirmed to be true. Swearing or affirmation takes place before an official having the authority to administer oaths." More…
Affidavit
"A statement by a person in which the person states that to the best of his or her knowledge, the facts in question are true. An affidavit is sworn before a Notary, Commissioner for More…
After Acquired Property
Property of a bankrupt acquired between the date of bankruptcy and prior to the bankrupt's discharge from bankruptcy.
Agent
"A person who has received, usually by appointment, the power to act on behalf of another. "
Agent - Section 427 of the Bank Act
"A person, usually a Trustee in Bankruptcy, appointed by a bank to realize on its security as defined under Section 427 of the Bank Act. The security covered is inventory. "
Amortization
"Amortization: The depreciation (or repayment) of an (usually) intangible asset (eg. loan, mortgage) over a fixed period of time. Example: if a loan of 12,000 is amortized over 1 year More…
Annualize
"Annualize: To convert anything into a yearly figure. Eg. if profits are reported as running at $10k a quarter, then they would be $40k if annualized. If a credit card interest rate More…
Annulment
To make void or to cancel.
Appeal
To ask a more senior Court or person to review a decision of a subordinate Court or person.
Appearance
"The act of showing up in Court as either plaintiff, defendant, accused, or any other party to a Court action. "
Application
"The act of making a request usually of the Court, for example, an application to have a bankrupt discharged. "
Application for a Bankruptcy Order: (Petition)
"The application made under the Bankruptcy and Insolvency Act for the Court to hand down a Receiving Order (Bankruptcy Order) stating the person is in bankruptcy. In an amendment dated More…
Appointment
"The act of designating, or the acquisition of some, responsibility or position. For example, the Court can appoint a Trustee in Bankruptcy as Receiver of some property. "
Appropriation Account
"Appropriation Account: An account in the nominal ledger which shows how the net profits of a business (usually a partnership, limited company or corporation) have been used. " More…
Appurtenances
"Things attached to real property or, by their nature, belonging with real property; e.g., an easement or a right of way. "
Arbitration
"A dispute resolution mechanism, whereby an independent neutral third party is appointed to hear and consider the merits of the dispute, and who renders a final and binding decision More…
Arm's Length
The act of dealing with a person who is not a relative but an independent third party.
Arrears
"Arrears: Bills which should have been paid. For example, if you have forgotten to pay your last 3 months rent, then you are said to be 3 months in arrears on your rent. " More…
Cred-O-Pedia Glossary of Credit Learning
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