Rbc virtual visa debits, thirdparty payment debits, rbc royal bank loan payments, rbc royal bank mortgage payments, preauthorized and selfserve rbc royal bank. Accounts payable ap is an account within the general ledger that represents a companys obligation to pay off a shortterm debt to its creditors. Teesside joint archives committee is being told next week that accessions to the archive have included a diary and account book of farmer thomas swinburne, of owton manor and rift house, in hartlepool. Nostros, a term derived from the latin word for ours, are frequently used to facilitate foreign. An account in trust is a general term used to define any type of financial account that is opened by an individual and managed by a designated trustee for the benefit of a third. Book account law and legal definition uslegal, inc. To find all definitions that include a specific term, enter a word or phrase below. There are several encyclopedias of the law which fit this definition, the most famous of which is corpus juris secundum. Open accounts law and legal definition uslegal, inc. An easytounderstand guide to the language of law from the dictionary experts at merriamwebster. Legalese definition is the specialized language of the legal profession.
A contingent liability is a potential liability that may occur, depending on the outcome of an uncertain future event. Proper books of account law and legal definition uslegal. Bequeath definition is to give or leave by will used especially of personal property. Noaccount meaning in the cambridge english dictionary. Add the power of cambridge dictionary to your website using our free search box widgets. For the definition of a legal term, enter a word or phrase below. The assigning by a company or business to a lender, usually a bank, the interest that the person or company has in accounts receivables. Accountable definition, subject to the obligation to report, explain, or justify something. To learn steps to take so that a creditor cant levy your bank account, see avoiding frozen bank accounts.
I found the following info regarding california law. However, properly speaking, the term open account means only an account on which the balance has not been determined. However, if the obligation sued upon constitutes an open book account, the statute of limitations begins to run from the date of the last entry on the account. Continues to operate like an old world bazaar, 16 jan. Definition of on any account in the idioms dictionary. On no account definition, an oral or written description of particular events or situations. The 2nd edition has over 15k legal terms for your business and research use. Information and translations of no account in the most comprehensive dictionary definitions resource on the web. If something must on no account not on any account be done, it must not be done at any time or for. Can someone define an open book account is there a. If you say that something should on no account be done, you are emphasizing that it. In a lawsuit, this is likely referring to the reason for the lawsuit.
Several states have such series of books covering explanations of the law o. If a collection agency representing a debt buyer not original creditor begins collection attempts and. History definition, the branch of knowledge dealing with past events. Grandfathering financial definition of grandfathering. Blacks law is the most widely used law dictionary in the united states. A company has the flexibility to tailor its chart of accounts to best suit its needs, including adding accounts.
An open account may also be referred to as open current account, running account and mutual, open and current account. But an open book account becomes closed, and the statute of limitations begins to run, once the account creditor ceases to extend credit on the account and there is no further activity on the account other than payment being made. A type of credit extended by a seller to a buyer that permits the buyer to make purchases without a note or security and is. A type of credit extended by a seller to a buyer that permits the buyer to make purchases without a note or security and is based on an evaluation of the buyers credit. If your entire account is frozen, you will need to stop the direct deposits so that you can be sure you will have access to your money. It is the reference of choice for terms in legal briefs and court opinions and has been cited as a secondary legal authority in many u. The law dictionary features blacks law dictionary, the trusted legal dictionary of law definitions and terms for over 100 years. A term used in book keeping, to express the lefthand page of the ledger, account, or account render in practice. For example, congress may change the law by stipulating that certain types of municipal bonds no longer pay taxfree interest while at the same time grandfathering the municipal bonds issued before the date on which the new law is to take effect. Payee definition is one to whom money is or is to be paid. It is an account based on continuous dealing between the.
It is an account based on continuous dealing between the parties, which has not been closed, settled or stated, and which is kept open with the expectation of further transactions. A nostro account refers to an account that a bank holds in a foreign currency in another bank. Escrow is a legal concept in which a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction. On no account definition and meaning collins english. A comprehensive dictionary of canadian legal terms including the most detailed dictionary of canadian bankruptcy terms extant. This can provide a clear basis for suing for a debt.
A contingent liability is recorded in the accounting. Blacks law dictionary free online legal dictionary. That the contractor used an open book account and it seeking payment of the billed activity. Of nolittle account definition and meaning collins. Account stated law and legal definition uslegal, inc.
Common counts may include claims of debt for goods sold and delivered, for work performed, for money loaned or advanced, for money paid requiring repayment, for money received on behalf of the plaintiff, or for money due on an account stated or on an open book account. Legal definitions p the books of account of a merchant or trader kept in such a manner, that any competent person, by an examination of them, could ascertain and determine the real condition of his affairs. If you say that something is of no account or of little account, you mean that it is. Hence, an account stated arises when a particular amount is owed to the creditor by the debtor as of a certain date. Definition of account book in the legal dictionary by free online english dictionary and encyclopedia. The peoples law dictionary by gerald and kathleen hill publisher fine communications. Law dictionary search more than 10,000 legal words and phrases for clear definitions written in plain language. An open book account is a method used by companies to debit the account of a customer for a service or product and then bill the customer at a later date. Account, sometimes called account render, was a form of action at common law. A book kept by a merchant, trader, mechanic, or other person, in which are entered from time to time the transactions of his. Definition of take no account of in the idioms dictionary. Dictionary grammar blog school scrabble thesaurus translator quiz more resources more from collins. A chart of accounts is a listing of the names of the accounts that a company has identified and made available for recording transactions in its general ledger.
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