Historic Use

Prescriptive Right
A 'prescriptive right' refers to the entitlement to use and access a property based on continuous and historic use over a certain period, without the permission from the rightful owner. Typically recognized in property law, such rights can affect land ownership and usage disputes.

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.