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Today's Terms
Acceleration Clause
Definition:
A clause (often in mortgages or other loans) where some action will occur ahead of schedule as a result of some other action. For example, an acceleration clause in a loan may mean that the full amount is due immediately if the debtor misses two monthly payments in a row.
Accumulated Depreciation
Definition:
The total depreciation taken on an asset since it was acquired.
I-9, Employment Eligibility Verification
Definition:
Employers are required to have all employees and owners complete a form I-9 as proof of eligibility to work in the U.S.
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