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Economy, and the Public Accounts

Abandonment, in Marine Insurance, is the relinquishment in a case of loss, of whatever may be saved to the insurer. Accepter, a person who accepts a bill of exchange binding himself to pay it. Accommodation Bill, a bill accepted by a second party to oblige or accommodate. Account Current, a chronological statement of transactions between two parties in a Dr. and Cr. form.

Account of Charge and Discharge, a Chancery form where the items of Charge against the accounting party are classified on one side; while, on the other side the Discharge shows how he has accounted for them.

Account Sales, a specification of the quantities and value of merchandise sold, the charges, and the net proceeds.

Accumulation, the employment, or investment of revenue as capital. Acquittance, a receipt and discharge in writing, for money or a debt. Acts of Bankruptcy, acts or events held as a criterion of Bankruptcy. Adjudication, Scot., an action of execution against heritage for debt, etc. Adjustment, in Marine Insurance, a stated account of loss recoverable from underwriters. Ad Valorem, according to value.

Advance, money paid for goods before delivery, or, in case of consignment, before sale.

Adventure, a shipment by a merchant on his own account. Advice, information by letter.

Advowson, the right of presentation to a benefice. Financially it is accounted to be equivalent to a life annuity whose amount is the excess of the revenue of the benefice over the minimum stipend for the services.

Affidavit, a statement on oath.

Affirmation, a solemn statement without oath.

Affreightment, a contract for the hire of a ship, or some part of it. Agio, the premium borne by a better sort of money above an inferior. Amortizement, (Fr.) the annual sinking fund required to redeem a principal sum. Annuities Certain, annuities payable during a fixed term. Annuities on Lives, annuities depending on one or more lives. Appraisement, the estimate of a sworn valuer.

Appropriation in Aid, a financial term applied to the funds arising from the sale of old stores, and extra receipts of the preceding year, which are abated upon the estimates of the year submitted to parliament.

Arbitration, a contract referring disputed matters to the decision of a neutral party. Arbitration of Exchange, the operation of converting the currency of one country into that of another.

Arrestment, Scot., attaching a fund or other movable till a debt be satisfied. Assets, a general term for property in contradistinction to liabilities. Assignats, the depreciated paper money of France, after the Revolution of 1789. Assumpsit, Eng., a voluntary promise by which a man assumes to perform or pay anything to another; also an action for breach of contract. Assurance, an engagement to secure the payment of a sum on the death of an individual in consideration of a stipulated single or annual payment. Attachment, Eng., the act by which a creditor may claim and seize the effects of his debtor.

Audit, a scrutiny of accounts by persons duly authorized to examine and report how far they are properly stated and vouched.