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Business assets
Business assetsThe undertaking and assets of an economic entity - as distinct from a company, are known as business assets. It is not a distinct legal person and its components e.g. goodwill, plant, contracts etc. belong to the company or individual which owns them. Where a business is referred to as a going concern it means it carries the benefit of orders, contracts, customers and other aspects of revenue generation on a continuing basis. RELATED TERMS-------------------------------------- Undertaking Contracts. An engagement by one of the parties to a contract to the other, and not the mutual engagement of the parties to each other; a promise. Assets Cash, property and investments along with anything else that may be of value to a individual or business. Entity A person or legally recognized organization. Company An association of a number of individuals for the purpose of carrying on some legitimate business. Legal That which is according to law. It is used in opposition to equitable, as the legal estate is, in the trustee, the equitable estate in the cestui que trust. Person This word is applied to men, women and children, who are called natural persons. Goodwill An intangible business asset which includes a cultivated reputation and consequential attraction and confidence of repeat customers and connections. Belong In statutes referring to inhabitancy, the poor, etc., designates the place of a person's legal settlement, not merely his place of residence. Benefit This word is used in the same sense as gain and profits. Orders 1) Rules made by a court or other competent jurisdiction. The formula is generally in those words: It is ordered, &c. 2) Orders also signify the instructions given by the owner to the captain or commander of a ship which he is to follow in the course of the vovage. Revenue The income of the government arising from taxation, duties, and the like; and, according to some correct lawyers, under the idea of revenue is also included the proceeds of the sale of stocks, lands, and other property owned by the government. SIMILAR TERMS-------------------------------------- Business and corporate law The area of law dealing with corporate matters and disputes. Business attorney Law professional specialized in business areas and who provides assistance in almost every aspect of a client's business, from zoning information and compliance, copyright and trademark advice to formal business incorporation and lawsuits as well as liability. Business bankruptcy A proceeding under the Bankruptcy Code filed by a business entity. Business hours The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a banker. Business law A particular area of the legal profession dealing with business legislation and business disputes. Business nonimmigrant An alien coming temporarily to the United States to engage in commercial transactions which do not involve gainful employment in the United States, i.e., engaged in international commerce on behalf of a foreign firm, not employed in the U.S. labor market, and receives no salary from U.S. sources. PREVIOUS AND NEXT TERMS-------------------------------------- Burgomaster Germany. In Germany this is, the title by which an officer who performs the duties of a mayor is, called. Burial The act of interring the dead. Burning Fire, accidental. Burying-ground A place appropriated for depositing the dead; a cemetery. Bushel Measure. The Winchester bushel, was made the standard of grain; a cylindrical vessel, eighteen and a half inches in diameter, and eight inches deep inside, contains a bushel; the capacity is 2145.42 cubic inches. Business assets Business bankruptcy A proceeding under the Bankruptcy Code filed by a business entity. Business hours The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a banker. Business nonimmigrant An alien coming temporarily to the United States to engage in commercial transactions which do not involve gainful employment in the United States, i.e., engaged in international commerce on behalf of a foreign firm, not employed in the U.S. labor market, and receives no salary from U.S. sources. Butt A measure of capacity, equal to one hundred and eight gallons. Butts and bounds This phrase is used to express the ends and boundaries of an estate. We thank you for using the Juridical Dictionary to search for Business assets. If you have a better definition for Business assets than the one presented here, please let us know by making use of the suggest a term option. This definition of Business assets may be disputed by other professionals. Our attempt is to provide easy definitions on Business assets and any other medical topic for the public at large.
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