1031 exchange (also called a tax-deferred exchange or a Starker exchange) refers to the ability of investors and organizations to replace one investment for a similar one instead of keeping the proceeds. For certain transactions, the exchange allows the investor or organization to defer capital gains taxes until the new investment is actually sold for the proceeds.
A 341 meeting is a mandatory meeting held at the beginning of a bankruptcy proceeding. Also referred to as the creditors meeting, its name comes from section 341 of the Bankruptcy Code.
A/R is the abbreviation for accounts receivable.
[Last reviewed in June of 2022 by the Wex Definitions Team]
The absolute bar rule prohibits a creditor who disposes of collateral in a commercially unreasonable manner from obtaining a deficiency judgment.
For example:
Abuse is an action that intentionally causes harm or injures another person. This can refer to physical abuse, psychological abuse, mental abuse, or child abuse (see below).
Abuse is also to misuse something—e.g., abuse of process.
Depreciation is the reduced value of something over time. Accelerated depreciation is any loss of value where the business depreciates (i.e., accounts for the value loss of a fixed asset in tax filings) at a greater proportion of an asset’s expected lifetime value loss earlier in its life.
An acceleration clause is a term in a contract (typically a loan agreement) that requires a party to make all payments due under the contract if certain conditions occur. An acceleration clause is typic
Generally, an account is a record, history, or report of something.
In the context of secured transactions, an account debtor is a person or entity who owes an obligation to a creditor for goods or services by virtue of an acc
