Money or collaterals deposited with a broker to protect contracts.


The written pledge of real estate or chattels to secure payment.


A term applying to commercial paper, that may be transferred by indorsement or simply by delivery.

Net Proceeds

The proceeds of a sale after all expenses are deducted.

On Call

Money loaned "on call" must be returned the day it is called for, before the close of banking hours, and without previous notice.

Open Account

An unsettled account.


Property bought or sold at the call or demand of the buyer or seller, as may be specified; a conditional contract.


Term applied to a debt or note which has run beyond the time when payment can be enforced by law.


Unsettled; unpaid.


To draw a greater sum than one has to his credit.

Par Value

Nominal value; usually the printed or written value of any paper.

Power Of Attorney

A written instrument giving an agent authority to act for his principal. An agent thus empowered is called an Attorney in Fact.


A formal declaration made by a notary public of the non-payment, non-acceptance of a note or a draft.


A person appointed to take charge of the affairs of a corporation on its dissolution, and to distribute its property according to law.


Money, property, or that which can be converted into property.

Renewal Of A Note

Extending the time of its payment by giving a new Note in exchange for it.