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This is the Attorney For You Legal Dictionary. Please click on
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Glossary Results:
401(K) Plan - A retirement plan that allows an employee to set aside part of his or her income (tax-deferred) in an investment account. The employee must keep the money in the account for a specified amount of time to avoid tax penalties.
Acceptance - The taking and receiving of anything in good faith with the intention of retaining it.
accrual method of accounting - An accounting method where income is reported as soon as it is earned (as opposed to when it is actually received) and expenses are reported when they are incurred (as opposed to when they are paid).
ADTV - Average Daily Trading Value
agreement - A meeting of the minds. An agreement is made when two or more people or entities reach an understanding about a particular issue, including their obligations, duties and rights. An agreement can be written or oral and may be considered a legally binding contractual obligation.
Assets - The tangible and intangible 'possessions' of a company that have a price value. Tangible assets, which can normally produce cash quickly, include securities, accounts receivable, cash, inventory, office equipment and real estate property. Intangible assets include goodwill, brand, trademark, franchise and intellectual property rights.
association - A group of two or more people who have joined together for a common purpose. Unlike a corporation, an association is not a legal entity and does not have to file all the formal papers required of a corporation.
Audit - During an audit a company or individual's financial/accounting or tax records are evaluated for accuracy. an audit a company or individual's financial/accounting or tax records are evaluated for accuracy.
Bear Market - A period of time in which investment prices are in decline, usually in a couple industries, by fifteen to twenty percent. A bear market most commonly occurs during a recession, a time when unemployment is high, or during a time of quickly rising inflation.
Broken Fraud - This form of fraud occurs when an advisor, stockbroker, or brokerage firm offers investors biased, unfounded, or contradictory investment advice out of a conflict of interest. Conflict of interest frequently occurs when an analyst or stock researcher is influenced by the investment banking activities of his or her firm. It is the analyst/broker's responsibility to disclose any conflict of interest to his or her investors prior to giving advice. Brokerage fraud is also known as investment fraud.
Bull Market - An period of time in which investment prices are rising or expected to rise. Bull markets most often occur when the market is recovering from a recession or experiencing a boom. Investor optimism can also create a bull market.
business records exception - An exception to the hearsay rule, that allows a business document to be admitted into evidence if a proper foundation is laid to show it is reliable.
cash method of accounting - An accounting method where income is reported when it is received (as opposed to when it is earned) and expenses are reported when they are paid (as opposed to when they are incurred).
cash surrender value - The amount of cash payable upon voluntary termination of an insurance policy prior to the death of the insured.
CEO - Chief Executive Officer
CFO - Chief Financial Officer
Chapter 11 Bankruptcy - Under Chapter 11 bankruptcy a company is protected from creditors while it restructures its business, usually by downsizing and narrowing focus.
Chapter 7 Bankruptcy - A Chapter 7 bankruptcy allows a company to liquidate its assets upon deciding that it is not capable of paying the debt it has accrued. Once the company's assets have been sold and the funds have been distributed to creditors, it is free from liability.
Clayton Act - A federal law which is an amendment to the Sherman Act dealing with antitrust regulations and unfair trade practices.
collection agency - A company, regulated by the federal Fair Debt Collection Practices Act, that is hired by a creditor to collect on a debt that it is owed
Common Stock - These are shares in a corporation that entitle the holder to a certain amount of company ownership. Common stock shareholders have voting rights, and receive dividends as the company grows. If the corporation files for Chapter 7 bankruptcy, the common stock shareholder will receive money after bondholders, creditors and preferred stock shareholders.
Comparative fault - A rule in admiralty law where each vessel involved in a collision is required to pay a share of the total damages in proportion to its percentage of fault.
copyright - A legal right that can be obtained through the government to provide protection for the owner of a creative work.
Corporate Fraud - This form of fraud occurs when a corporation deliberately skews or conceals information in order to appear successful. A corporation may commit fraud by manipulating accounting records, hiding debt, or failing to inform shareholders of loans and bonuses given to executives. Also known as shareholder fraud.
Corporation - A legal designation given to a company recognized as its own entity, independent of its directors and founders. Because everyone within a corporation is an employee, no single individual is liable for the company's debt of failure. Corporations issue stocks and bonds.
Creditor - A person, business, or firm to whom money is owed.
debt collector - Someone who is employed in the collections department of a creditor or a collection agency to locate debtors and obtain payment from them.
debtor - A person or entity who is obligated to repay money to a creditor.
Defunct - A corporation no longer operative; having ceased to exist.
doing business as (DBA) - A designation which refers to the situation in which a business owner operates a company under a name different from his real name.
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