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In the civil and Scotch law. A release made by a creditor to his debtor of his debt, without receiving any consideration. AyL Pand. tit. 26, p. 570. It is a species of donation, but not subject to the forms of the latter, and is valid unless In fraud of creditors. Merl. Repert. The verbal extinction of a verbal contract, with a declaration that the debt has been paid when it … [Read more...] about ACCEPTILATION

In the civil law. An obligation which is incident to another or principal obligation; the obligation of a surety. Poth. Obi. pt 2, c. 1, … [Read more...] about ACCESSORY OBLIGATION

Land bought by a builder or speculator, who erects houses thereon, and then leases portions thereof upon an improved ground rent … [Read more...] about ACCOMMODATION LANDS

Also known as ACRS; an accounting method used to write off a fixed asset at an accelerated rate. … [Read more...] about ACCELERATED COST RECOVERY SYSTEM

The person who accepts a bill of exchange, (generally the drawee,) or who engages to be primarily responsible for its payment. Law Dictionary - Alternative Legal Definition contracts. The person who agrees to pay a bill of exchange drawn upon him. There cannot be two separate acceptors of a bill of exchange, e.g. an acceptance by the drawee, and another for the honor of some … [Read more...] about ACCEPTOR