What Is an Arraignment? Arraignment is a court proceeding in which the defendant is read the charges in the indictment, and is asked to enter a plea. The arraignment occurs after the defendant is arrested and formal charges are levied. Understanding Arraignment Court cases typically move through a series of stages before being considered closed.
Definition of Arrearage An amount on a loan, cumulative preferred stock or any credit instrument that is overdue. Arrearage is also referred to as “arrears”. Breaking Down Arrearage In the case of a preferred dividend, if the company does not pay the dividend to its shareholders, that dividend income accumulates. This means that in the
What Is Arrears? Arrears is a financial and legal term that refers to the status of payments in relation to their due dates. The word is most commonly used to describe an obligation or liability that has not received payment by its due date. Therefore, the term arrears applies to an overdue payment. If one
What Is Apple iOS? Apple (AAPL) iOS is the operating system for iPhone, iPad, and other Apple mobile devices. Based on Mac OS, the operating system which runs Apple’s line of Mac desktop and laptop computers, Apple iOS is designed for easy, seamless networking between a range of Apple products. Key Takeaways Apple iOS is
What Is Apple Pay? Apple Pay is a mobile contact payment system and digital wallet service that Apple Inc. introduced in 2014. The service allows users to pay for products and services using near field communication (NFC) at the point of sale whether in person via iOS apps or remotely over the Internet. Apple Pay
What is Appleton Rule? The Appleton Rule requires every insurer in New York to abide by its state law, even when they conduct business in other states. KeyTakeaways The Appleton Rule is a regulation that requires every insurer in New York to abide by its state law, specifically the New York Insurance Code, even when
What Is the Applicable Federal Rate (AFR)? The applicable federal rate (AFR) is the minimum interest rate that the Internal Revenue Service (IRS) allows for private loans. Each month the IRS publishes a set of interest rates that the agency considers the minimum market rate for loans. Any interest rate that is less than the
What Is an Application Programming Interface (API)? An application programming interface (API) is a set of programming codes that queries data, parse responses, and sends instructions between one software platform and another. APIs are used extensively in providing data services across a range of fields and contexts. APIs have become increasingly popular tools, with the
What Is an Application of Retention? An application of retention is a contractual clause included in many insurance policies. The purpose of the clause is to specify what portion of any potential damages will need to be paid for by the policyholder. Damages in excess of this retained portion would then be covered by the
What Is Apportionment? Apportionment applies to many contexts. Where insurance is concerned, an apportionment is the allocation of a loss between all of the insurance companies that insure a piece of property. This allocation is used to determine the percentage of liability held by each insurer. For example, three insurers that each cover $60,000 on a $120,000
