Evidence

Allegation
An allegation refers to an assertion of fact made in a pleading, typically within the context of legal proceedings. It is a formal statement of an issue that the party raising it expects to prove.
Burden of Proof
The burden of proof is the duty of a party in a trial to substantiate an allegation or issue to avoid dismissal or convince the court of the truth of a claim, essential in both civil and criminal lawsuits.
Exculpatory
Exculpatory pertains to evidence or statements that justify or excuse a defendant from alleged fault or guilt. It can also refer to clauses in financial and legal documents that release a party from liability.
Hearsay
Hearsay refers to unofficial and unsubstantiated information or gossip, or, in legal contexts, to testimony in court where the witness refers to statements made by others that are presented to prove the truth of the matter asserted.
Material Fact
A material fact is a fact that is significant or essential to the issue at hand. In the context of legal proceedings or transactions, it is a fact that could sway a decision or compel the need for full disclosure.
Prima Facie
The term 'prima facie' refers to something that appears to be true at first glance and can be accepted until disproved or rebutted. It describes a circumstance or evidence that is sufficient to establish a fact or a case unless contradicted by further evidence.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.