accounts

accounts
index budget, finance, ledger

Burton's Legal Thesaurus. . 2006


accounts
USA
Except as used in "account for", defined in the UCC as a right to payment of a monetary obligation, whether or not earned by performance:
• For property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of.
• For services rendered or to be rendered.
• For a policy of insurance issued or to be issued.
• For a secondary obligation incurred or to be incurred.
• For energy provided or to be provided.
• For the use or hire of a vessel under a charter or other contract.
• Arising out of the use of a credit or charge card or information contained on or for use with the card.
• As winnings in a lottery or other game of chance operated or sponsored by a state, governmental unit of a State, or person licensed or authorized to operate the game by a State or governmental unit of a State.
The term includes health-care-insurance receivables.
The term does not include:
• Rights to payment evidenced by chattel paper or an instrument.
• commercial tort claims.
• deposit accounts.
• letter-of-credit rights or letters of credit,
• Rights to payment for money or funds advanced or sold, other than rights arising out of the use of a credit or charge card or information contained on for the use with the card (UCC §9-102(a)(2)).
An account is an asset type over which an entity can grant a security interest under Article 9 of the UCC.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • accounts — A category of personal property defined by Article 9 of the UCC. Under the pre 2000 version of Article 9, an account is a right to receive payment for goods sold or leased, or for services rendered, where these rights are not evidenced by an… …   Financial and business terms

  • Accounts — (Roget s Thesaurus) < N PARAG:Accounts >N GRP: N 1 Sgm: N 1 accounts accounts accompts| =>! Sgm: N 1 commercial arithmetic commercial arithmetic monetary arithmetic Sgm: N 1 statistics statistics &c.(numeration) 85 Sgm: N 1 money matters …   English dictionary for students

  • accounts — n. books 1) to keep accounts record of transactions 2) accounts payable; receivable differences 3) to settle, square accounts * * * square accounts accounts receivable ( books ) to keep accounts [ differences ] to settle accounts [ record of… …   Combinatory dictionary

  • accounts — 1) The profit and loss account, balance sheet, and cash flow statements of a company. See: annual accounts, published accounts See also: financial statements 2) See: books of account …   Accounting dictionary

  • accounts — 1) The profit and loss account, balance sheet, and cash flow statements of a company. See annual accounts 2) See account; books of account …   Big dictionary of business and management

  • Accounts receivable — (A/R) is one of a series of accounting transactions dealing with the billing of customers who owe money to a person, company or organization for goods and services that have been provided to the customer. In most business entities this is… …   Wikipedia

  • Accounts receivable financing — (also known as accounts receivable funding) is the selling of invoices that are outstanding or receivables at a discount to a finance company that assumes the risk on the receivables which provides quick cash to your business. Accounts… …   Wikipedia

  • accounts receivable — Money due or owed to a business or professional by customers or clients for goods or services. Generally, accounts receivable refers to the total amount due to a business and is considered in calculating the value of the business. Category:… …   Law dictionary

  • accounts (of limited companies) — annual accounts for circulation to members. Such accounts should be sufficient to show and explain the company s transactions and be such as to disclose with reasonable accuracy at any time the financial position of the company at that time and… …   Law dictionary

  • accounts payable — index bill (invoice) Burton s Legal Thesaurus. William C. Burton. 2006 accounts payable …   Law dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”