As opposed to effective age. The objective age in years of a building measured simply by the passage of time since it was constructed. Effective age is a subjective measurement of the condition of a …
Actual Authority
With reference to an agent or representative. The limits of the power the agent or representative has to bind her principal to an agreement or to a statement. …
Actual Cash Value
An insurance term, the value of a building calculated by subtracting the decrease in value caused by age and wear and tear from the cost of replacing the building entirely. …
Actual Damages
An award of the court to compensate an injured party for losses incurred as a result of the actions or omissions of another party. …
Actual Eviciton
Wrongful removal of a tenant from possession of a premises, usually by a landlord, contrary to the terms of the lease. …
Actual Possession
As opposed to constructive possession. When the owner of a property occupies the property on a day-to-day basis. Constructive possession is when the owner takes actions to establish and maintain his …