Super Finance Glossary
Over 10,000 financial glossary terms...
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Adverse Opinion
Definition: An independent auditor's opinion expressing that a firm's financial statements do not reflect the company's position accurately. See also: Qualified opinion.
Definition: An independent auditor's opinion expressing that a firm's financial statements do not reflect the company's position accurately. See also: Qualified opinion.
Adverse Party
Definition: Any person having a substantial beneficial interest in the trust that would be adversely affected by the exercise/non-exercise of their power with respect to the trust. A person having a power of appointment over trust property is deemed to have a beneficial interest in the trust. A related party to the grantor, such as the grantor's spouse, is generally considered to be subservient to the grantor, and therefore a nonadverse party. Irc § 672(c).
Definition: Any person having a substantial beneficial interest in the trust that would be adversely affected by the exercise/non-exercise of their power with respect to the trust. A person having a power of appointment over trust property is deemed to have a beneficial interest in the trust. A related party to the grantor, such as the grantor's spouse, is generally considered to be subservient to the grantor, and therefore a nonadverse party. Irc § 672(c).
Adverse Selection
Definition: Refers to a situation in which sellers have relevant information that buyers lack (or vice versa) about some aspect of product quality.
Definition: Refers to a situation in which sellers have relevant information that buyers lack (or vice versa) about some aspect of product quality.
Advising Bank
Definition: Corresponding bank in the beneficiary's country to which an issuing bank sends a letter of credit.
Definition: Corresponding bank in the beneficiary's country to which an issuing bank sends a letter of credit.
Affidavit Of Loss
Definition: A sworn statement describing the particulars and circumstances of the loss of securities. This affidavit is required before a Bond of Indemnity can be issued and the securities replaced.
Definition: A sworn statement describing the particulars and circumstances of the loss of securities. This affidavit is required before a Bond of Indemnity can be issued and the securities replaced.
Affiliate
Definition: Relationship between two companies when one company owns substantial interest, but less than a majority of the voting stock of another company, or when two companies are both subsidiaries of a third company. See: Subsidiaries, parent company.
Definition: Relationship between two companies when one company owns substantial interest, but less than a majority of the voting stock of another company, or when two companies are both subsidiaries of a third company. See: Subsidiaries, parent company.
Affiliated Person
Definition: An individual who possesses enough influence and control in a corporation as to be able to alter the actions of the corporation.
Definition: An individual who possesses enough influence and control in a corporation as to be able to alter the actions of the corporation.
Affirmative Covenant
Definition: A bond covenant that specifies certain actions the firm must take.
Definition: A bond covenant that specifies certain actions the firm must take.
Affirmative Obligation
Definition: A New York Stock Exchange rule that governs the behavior of specialists. Affirmative obligation is the mandate of the specialists to step in and act as either the buyer or the seller when public investor orders exist do not match up naturally. Also known as positive_obligation. Related: negative_obligation.
Definition: A New York Stock Exchange rule that governs the behavior of specialists. Affirmative obligation is the mandate of the specialists to step in and act as either the buyer or the seller when public investor orders exist do not match up naturally. Also known as positive_obligation. Related: negative_obligation.
Affordability Index
Definition: An index that measures the financial ability of consumers to purchase a home.
Definition: An index that measures the financial ability of consumers to purchase a home.
After Acquired Clause
Definition: A contractual clause in a mortgage agreement stating that any additional mortgageable property attained by the borrower after the mortgage is signed will be regarded as additional security for the obligation addressed in the mortgage.
Definition: A contractual clause in a mortgage agreement stating that any additional mortgageable property attained by the borrower after the mortgage is signed will be regarded as additional security for the obligation addressed in the mortgage.
After-hours Dealing Or Trading
Definition: Securities trading after regular trading hours on organized exchanges.
Definition: Securities trading after regular trading hours on organized exchanges.
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