credit
cred·it 1 n
2 a: the balance in an account which may be drawn upon and repaid later compare loan
b: the use of resources (as money) in the present obtained by the debtor's promise to repay the creditor in the future usu. with interest as compensation to the creditor and often secured by a pledge of property or the right to attach the debtor's income in case of a failure to repay see also consumer credit compare debt
c: financial reputation
to borrow money on the credit of the United StatesU.S. Constitution art. I
3 a: a deduction from an expense or asset account
b: a reduction of an amount otherwise due; esp: tax credit
a credit for child-care expenses compare deduction, exclusion, exemption
credit 2 vt
1: to supply goods on credit to
2: to trust in the truth of
3 a: to enter upon the credit side of an account
b: to place an amount to the credit of
credit his account with ten dollars

Merriam-Webster’s Dictionary of Law. . 1996.

credit
I (recognition) noun commendation, consideration, distinction, esteem, fame, favorable opinion, good name, high regard, honor, merit, power, prestige, rank, regard, reputableness, reputation, repute, respect, standing, status, worth foreign phrases:
- Judiciis posterioribus fides est adhibenda. — Faith or credit is to be given to the more recent decisions
II (delayed payment) noun advance, chance to borrow money on time, confidence, future payment, installment buying, loan, opportunity to obtain goods on time, permission to defer payment, purchase on time, purchase on trust, reliance associated concepts: confirmed credit, consumer credit, contingent creditors, credit agreement, credit association, credit bureau, credit rating, credit union, creditor and debtor, creditor-beneficiary, creditor of bankrupt, creditor of estate, creditor's bill, creditor's committee, creditor's reference, creditor's suits, establishment of credit, extension of credit, general creditors, judgment creditors, junior creditors, letter of credit, line of credit, paper credit, personal credit, preferred creditors, renewal of credit, secured creditors, unconditional credit III index advance (allowance), authorize, character (reputation), citation (attribution), coupon, credence, degree (academic title), distinction (reputation), estimation (esteem), honor (outward respect), impute, loan, mention (tribute), merit, prestige, reference (citation), regard (esteem), reputation, respect, trust, weight (credibility), worth

Burton's Legal Thesaurus. . 2006


credit
Credit is defined within the Consumer Credit Act 1974 to cover all common types of credit including hire-purchase, credit sales, conditional sales, trading checks, overdrafts, credit cards, mortgages and personal loans and any other circumstances when a customer is given time to pay.

Easyform Glossary of Law Terms. — UK law terms.


credit
n.
(1) The ability of a person or business to obtain money, goods, or services because of the likelihood that he or she will pay back any debt on schedule, usually based on a past history of payment and likelihood of future success.
(2) Money lent on credit.
(3) In accounting, a sum received; the opposite of debt.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


credit
1. to put money into a person's account, in contrast to debit, which is the taking of money from an account.
2. a period given to someone before he has to make payment.
3. in the law of evidence, credit is synonymous with credibility; objections that were formerly sufficient to make a witness incompetent are now, in general, only available as affecting his credit or worthiness to be believed.

Collins dictionary of law. . 2001.


credit
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.


credit
1 n. Approval; deference; respect.
2 n. Belief; faith; trust.
3 n. The ability to borrow money, the amount made available as a loan, or the ability to purchase goods and services without immediate payment, based on the creditor's faith in one's ability and intention to repay the loan or to pay for the goods and services in the future.
4 n. A reduction in an amount owed or an addition to one's net worth or revenue.
5 v. A form of security offered to a seller that provides for payment by a bank or financial institution upon certain conditions being met, including delivery of goods within specified time and whatever other conditions are applicable to the transaction.

Webster's New World Law Dictionary. . 2000.


credit
A term used in accounting to describe either an entry on the righthand side of an account or the process of making such an entry. A credit records the increases in liabilities, owners' equity, and revenues as well as the decreases in assets and expenses.
A sum in taxation that is subtracted from the computed tax, as opposed to a deduction that is ordinarily subtracted from gross income to determine adjusted gross income or taxable income.
Claim for a particular sum of money.
The ability of an individual or a company to borrow money or procure goods on time, as a result of a positive opinion by the particular lender concerning such borrower's solvency and reliability.
The right granted by a creditor to a debtor to delay satisfaction of a debt, or to incur a debt and defer the payment thereof.

Dictionary from West's Encyclopedia of American Law. 2005.


credit
A term used in accounting to describe either an entry on the righthand side of an account or the process of making such an entry. A credit records the increases in liabilities, owners' equity, and revenues as well as the decreases in assets and expenses.
 
A sum in taxation that is subtracted from the computed tax, as opposed to a deduction that is ordinarily subtracted from gross income to determine adjusted gross income or taxable income.
 
Claim for a particular sum of money.
 
The ability of an individual or a company to borrow money or procure goods on time, as a result of a positive opinion by the particular lender concerning such borrower's solvency and reliability.
 
The right granted by a creditor to a debtor to delay satisfaction of a debt, or to incur a debt and defer the payment thereof.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

Synonyms:

Look at other dictionaries:

  • CRÉDIT — Le mot crédit est en usage dans des domaines très divers: commerce, comptabilité, banque, législations financière, fiscale et pénale, droit des affaires, sciences morales, politiques et économiques. Toutes les acceptions, cependant, restent… …   Encyclopédie Universelle

  • Credit — Crédit  Pour le credits qui recense les participants d une œuvre, voir générique de cinéma. Un crédit est une créance pour un prêt ou plus généralement une ressource pour l entreprise. Le sens étymologique de crédit est la confiance accordée …   Wikipédia en Français

  • crédit — CRÉDIT. s. m. Réputation où l on est d être solvable et de bien payer, qui est cause qu on trouve aisément à emprunter. Bon crédit. Grand crédit. Il a crédit, bon crédit chez les Marchands, sur la place. S il avoit besoin de cent mille écus, il… …   Dictionnaire de l'Académie Française 1798

  • credit — Credit. s. m. Reputation où l on est de bien payer, & qui est cause qu on trouve aisément à emprunter. Bon credit, grand credit. il a credit, bon credit chez les Marchands, sur la place. s il avoit besoin de cent mille escus il les trouveroit sur …   Dictionnaire de l'Académie française

  • credit — CRÉDIT, credite, s.n. 1. Relaţie (economică) bănească ce se stabileşte între o persoană fizică sau juridică (creditor), care acordă un împrumut de bani sau care vinde mărfuri sau servicii pe datorie, şi o altă persoană fizică sau juridică… …   Dicționar Român

  • Credit — Cred it (kr[e^]d [i^]t), n. [F. cr[ e]dit (cf. It. credito), L. creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. See {Creed}.] 1. Reliance on the truth of something said or done; belief; faith; trust; confidence.… …   The Collaborative International Dictionary of English

  • credit — [kred′it] n. [Fr crédit < It credito < L creditus, pp. of credere: see CREED] 1. belief or trust; confidence; faith 2. Rare the quality of being credible or trustworthy 3. a) the favorable estimate of a person s character; reputation; good… …   English World dictionary

  • Credit — may refer to: Debits and credits, a type of book keeping entry Credit (creative arts), acknowledging the ideas or other work of writers and contributors Course credit, a system of measuring academic coursework Credit (finance), the granting of a… …   Wikipedia

  • Credit — Cred it (kr[e^]d [i^]t), v. t. [imp. & p. p. {Credited}; p. pr. & vb. n. {Crediting}.] 1. To confide in the truth of; to give credence to; to put trust in; to believe. [1913 Webster] How shall they credit A poor unlearned virgin? Shak. [1913… …   The Collaborative International Dictionary of English

  • credit — ► NOUN 1) the facility of being able to obtain goods or services before payment, based on the trust that payment will be made in the future. 2) an entry in an account recording a sum received. 3) public acknowledgement or praise given for an… …   English terms dictionary

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