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Depreciation
DepreciationIn appraising, a loss in property value from any cause. in regard to improvements, deterioration and obsolescence. in accounting, an allowance made against the loss in value of an asset for a defined purpose and computed using a specified method. RELATED TERMS-------------------------------------- Loss contracts. The deprivation of something which one had, which was either advantageous, agreeable or commodious. Property Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property. Value Common law. This term has two different meanings. It sometimes expresses the utility of an object, and some times the power of purchasing other good with it. The first may be called value in use, the latter value in exchange. Cause 1) Civil law. It signifies the delivery of the thing, or the accomplishment of the act which is the object of a convention. 2) It is the consideration or motive for making a contract. 3) Pleading. The reason; the motive. 4) Practice. A contested question before a court of justice; it is a Suit or action. Obsolescence One of the causes of depreciation: an impairment of desirability and usefulness caused by new inventions, current changes in design, improved processes of production, or external factors that make a property less desirable and valuable for a continued use. Method The mode of operating or the means of attaining an object. SIMILAR TERMS-------------------------------------- Depredation French law. The pillage which is made of the goods of a decedent. Deprivation Ecclesiastical punishment. A censure by which a clergyman is deprived of his parsonage, vicarage, or other ecclesiastical promotion or dignity. Deprive Referring to property taken under the power of eminent domain, means the same as "take". While the Fourteenth Amendment ordains that no state shall "deprive any person of life, liberty, or property without due process of law", no definition of the word "deprive" is found in the Constitution. PREVIOUS AND NEXT TERMS-------------------------------------- Depopulation In its most proper signification, is the destruction of the people of a country or place. Deportable alien An alien in and admitted to the United States subject to any grounds of removal specified in the Immigration and Nationality Act. This includes any alien illegally in the United States, regardless of whether the alien entered the country by fraud or misrepresentation or entered legally but subsequently violated the terms of his or her nonimmigrant classification or status. Deportation Civil law. Among the Romans a perpetual banishment, depriving the banished of his rights as a citizen; it differed from relegation and exile. Deposition Ecclesiastical. law. The act of depriving a clergyman, by a competent tribunal, of his clerical orders, to punish him for some offence, and to prevent his acting in future in his clerical character. Depositor Contracts. He who makes a deposit. Depreciation Depredation French law. The pillage which is made of the goods of a decedent. Deprivation Ecclesiastical punishment. A censure by which a clergyman is deprived of his parsonage, vicarage, or other ecclesiastical promotion or dignity. Deprive Referring to property taken under the power of eminent domain, means the same as "take". While the Fourteenth Amendment ordains that no state shall "deprive any person of life, liberty, or property without due process of law", no definition of the word "deprive" is found in the Constitution. Deputy district attorneys The Act of Congress of March 3, 1815 authorizes and directs the district attorneys of the United States to appoint by warrant, an attorney as their substitute or deputy in all cases when necessary to sue or prosecute for the United States, in any of the state or county courts, by that act invested with certain jurisdiction, within the sphere of whose jurisdiction the said district attorneys do not themselves reside or practice. Deputy of the attorney general An officer appointed by the attorney general, who is to hold his office during the pleasure of the latter, and whose duty it is to perform, within a specified district, the duties of the attorney general. We thank you for using the Juridical Dictionary to search for Depreciation. If you have a better definition for Depreciation than the one presented here, please let us know by making use of the suggest a term option. This definition of Depreciation may be disputed by other professionals. Our attempt is to provide easy definitions on Depreciation and any other medical topic for the public at large.
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