The length of time for which an asset is deemed useful for tax purposes and during which it may be depreciated. … [Read more...] about USEFUL LIFE
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USUCAPTION
civil law. The manner of acquiring property in things by the lapse of time required by law. 2. It differs from prescription, which has the same sense, and means, in addition, the manner of acquiring and losing, by the effect of time regulated by law, all sorts of rights and actions. … [Read more...] about USUCAPTION
UNSEAWORTHY
See SEAWORTHY … [Read more...] about UNSEAWORTHY
UPTIME
The time that something is operational and in working order. The opposite of downtime. … [Read more...] about UPTIME
UNSECURED DEBT
A debt that does not have a security or collateral pledged. In the event he debtor defaults, the creditor cannot seize any property which the loan may have been used to purchase. The creditor may only sue for money damages pursuant to a judgment. See Secured Debt. … [Read more...] about UNSECURED DEBT