In legal parlance, this refers to a record or document that summarizes the proceedings or what has taken place, e.g. an abstract of judgment or an abstract of title relating to real property.
Law Dictionary – Alternative Legal Definition
(noun) – An abstract Is a less quantity containing the virtue and force of a greater quantity. A transcript is generally defined a copy, and is more comprehensive than an abstract.
(verb) – To take or withdraw from. Under the National Bank Act, “abstraction” is the act of one who, being an officer of a national banking association, wrongfully takes or withdraws from it any of its moneys, funds, or credits, with intent to injure or defraud it or some other person or company, and, without its knowledge or consent or that of its board of directors, converts them to the use of himself or of some person or company other than the bank. It is not the same as embezzlement, larceny, or misapplication of funds.