revolving charge

revolving charge
A type of credit arrangement that permits a buyer or a borrower to purchase merchandise or obtain loans on a continuing basis as long as the outstanding balance of the account does not exceed a certain limit.

Dictionary from West's Encyclopedia of American Law. 2005.


revolving charge
A type of credit arrangement that permits a buyer or a borrower to purchase merchandise or obtain loans on a continuing basis as long as the outstanding balance of the account does not exceed a certain limit.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

Look at other dictionaries:

  • revolving charge account — noun a charge account that does not have to be paid to zero balance • Hypernyms: ↑credit account, ↑charge account, ↑open account * * * a charge plan offerring revolving credit. [1965 70] …   Useful english dictionary

  • revolving charge account — An arrangement between a seller and a buyer pursuant to which: (1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card, (2) the unpaid balances of amounts financed… …   Black's law dictionary

  • revolving charge account — An arrangement between a seller and a buyer pursuant to which: (1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card, (2) the unpaid balances of amounts financed… …   Black's law dictionary

  • revolving charge account — a charge plan offerring revolving credit. [1965 70] * * * …   Universalium

  • charge account — noun credit extended by a business to a customer • Syn: ↑credit account, ↑open account • Hypernyms: ↑open end credit, ↑revolving credit, ↑charge account credit • Hyponyms: ↑ …   Useful english dictionary

  • charge — verb To impose a burden, duty, obligation, or lien; to create a claim against property; to assess; to demand; to accuse; to instruct a jury on matters of law. To impose a tax, duty, or trust. To entrust with responsibilities and duties (e.g. care …   Black's law dictionary

  • charge — verb To impose a burden, duty, obligation, or lien; to create a claim against property; to assess; to demand; to accuse; to instruct a jury on matters of law. To impose a tax, duty, or trust. To entrust with responsibilities and duties (e.g. care …   Black's law dictionary

  • charge account — System of purchasing goods and services on credit, under which customer agrees to settle or make payments on his balance within a specified time or periodically. See Consumer Credit Protection Act revolving charge account …   Black's law dictionary

  • charge account — System of purchasing goods and services on credit, under which customer agrees to settle or make payments on his balance within a specified time or periodically. See Consumer Credit Protection Act revolving charge account …   Black's law dictionary

  • revolving credit — re·volv·ing credit n: a credit which may be used repeatedly up to the limit specified after partial or total repayments have been made Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. revolving credit …   Law dictionary

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