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A mortgage loan which has an interest rate that changes over the life of the loan, based upon some market indicator, such as a weekly or monthly average of one-year U.S. Treasury Bills. ARMs frequently limit the variation of the interest so as to avoid drastic changes. … [Read more...] about ADJUSTABLE RATE MORTGAGE (ARM)

A contract that contains terms which consumers generally cannot negotiate, e.g. the fine print, whose terms are usually to the advantage of the seller and which may be onerous. They are typically preprinted, e.g. life insurance, and standardized contracts whereby a consumer is given an offer on a take it or leave it basis. … [Read more...] about ADHESION CONTRACT

A putting off or postponing of business or of a session until another time or place; the act of a court, legislative body, public meeting, or officer, by which the session or assembly is dissolved, either temporarily or finally, and the business in hand dismissed from consideration, either definitely or for an interval. If the adjournment is final, it is said to be sine die. In … [Read more...] about ADJOURNMENT

A tax term referring to the new basis in an asset that an owner has after being adjusted from its original tax basis. The basis is used for tax purposes to determine gain and loss. If property is bought for $X, that is the original tax basis but it can be adjusted upwards if the owner makes capital improvements for $Y. Upon sale, the proceeds less the adjusted basis ($X + $Y) … [Read more...] about ADJUSTED BASIS

In the civil law. To apply; to employ; to exercise; to use. Adhi bere diligentiam, to use care. Adhihere vim, to employ force. … [Read more...] about ADHIBERE