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 …
Adjustment Interval
Also known as Adjustment Period. The period of time (i.e. week, month, year) between changes in the interest rate charged on a adjustable-rate mortgage. …
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. …
Adjustment Period
See Adjustment Interval. The amount of time between interest rate adjustments in an adjustable-rate mortgage. …
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. …