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Questions and Answers
What does 'abatement' refer to in financial terms?
What does 'abatement' refer to in financial terms?
The term 'abide by the laws' means to ignore the laws.
The term 'abide by the laws' means to ignore the laws.
False
What is the meaning of 'abroad on business'?
What is the meaning of 'abroad on business'?
on a business trip abroad
What is an 'abort fee'?
What is an 'abort fee'?
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What does 'accelerated depreciation' mean?
What does 'accelerated depreciation' mean?
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What is the action of a lender in demanding early repayment called?
What is the action of a lender in demanding early repayment called?
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The term 'accept no liability for damage' implies that one takes responsibility for damages.
The term 'accept no liability for damage' implies that one takes responsibility for damages.
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What does 'acceptance' refer to in finance?
What does 'acceptance' refer to in finance?
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Study Notes
Abatement
- An abatement is a reduction in the amount of tax owed.
- It can also refer to a reduction in an expenditure or charge.
Abide by the laws
- This phrase means to obey or follow the laws.
Abolish the death penalty
- This phrase refers to ending the legal punishment of death.
Abolish the import surcharge
- This phrase means to remove a tax or fee levied on imported goods.
Abort fee
- An abort fee is a payment made when a contract or agreement is terminated.
Abroad on business
- This phrase means to be traveling outside of one's country for work purposes.
ABS
- ABS stands for asset-backed securitization.
Absence due to illness
- This phrase refers to a period of time away from work due to health issues.
Absolution
- Absolution is the release from an obligation or debt.
Abuse of authority / abuse of office / misuse of authority / misbehavior in office
- This phrase refers to the wrongful use of power by a person in a position of public authority.
ACCA
- ACCA stands for the Association of Certified Chartered Accountants.
Accelerated depreciation
- Accelerated depreciation is a method for rapidly deducting the cost of an asset over time.
- This method is often used for assets with a shorter useful life, such as computers.
Acceleration
- Acceleration refers to the early repayment of a loan by the lender.
- This usually occurs when the borrower defaults on their loan.
Accept / bill of exchange
- This phrase means to guarantee the payment of a bill of exchange by signing it.
Accept no liability for damage, if any
- This phrase indicates that a party is not responsible for any harm caused.
Acceptance
- An acceptance is the act of agreeing to honor a bill of exchange.
- It can also refer to a document guaranteeing payment of a bill of exchange.
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Description
Test your knowledge on essential legal terms and phrases. This quiz covers topics like abatement, legal punishment, and authority misuse. Perfect for law students or anyone interested in legal concepts.
