Credit

Definition - Noun
1  : See also recognition
see also full faith and credit
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 ~ of the United States ­U.S. Constitution art. I>
d  : See also letter of credit
3 a  : a deduction from an expense or asset account
b  : a reduction of an amount otherwise due
esp
: See also tax credit<a ~ for child-care expenses>
compare deduction exclusion exemption

Definition - Transitive Verb
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 <~ his account with ten dollars>



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Based on Merriam-Webster's Dictionary of Law ©2001.
Merriam-Webster, Incorporated
Published under license with Merriam-Webster, Incorporated.
http://www.m-w.com		 Merriam-Webster

slight negligence

failure to exercise the great degree of care typical of an extraordinarily prudent person


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