Legal Procedures

Acknowledgment
An acknowledgment in law is a declaration by the person who has signed a document that their signature is a voluntary act made before a duly authorized person, such as a notary public.
Administrative Law
Administrative law is the branch of law that deals with the powers and procedures of governmental bodies other than courts and legislatures. It significantly impacts the rights of private persons through mechanisms like investigations, hearings, rulemaking, and adjudication.
Demurrer
A Demurrer is a formal objection that the facts as stated in the pleadings, even if true, are not legally sufficient for the case to proceed further. It tests whether the complaint is sufficient to state a cause of action without admitting anything.
Deposition
Deposition is a pretrial discovery method involving a witness's transcribed and sworn statement, under questioning by an attorney, with the opportunity for cross-examination by the opposing side.
Incorporate
Incorporating refers to the process of legally forming a new corporation, city, or including additional elements within an entity as per legal procedures.
Partial Taking
Partial taking refers to the acquisition by condemnation of only part of the property or some property rights. It requires just compensation to the property owner for the loss incurred.
Rescind
Rescinding a contract entails the cancellation or annulment of the agreement, returning both parties to their pre-contractual status. The Truth in Lending Act provides a 'Right of Rescission' which allows signers to nullify the contract within a specified period.
Writ of Execution
A writ of execution is a court order that directs a court officer to enforce a judgment, which may involve collecting money or seizing property from a defendant as per a court ruling.

Accounting Terms Lexicon

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