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Careers in Commerce . FREE on REQUEST

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HOW TO ACHIEVE SUCCESS BY SPARE TIME STUDY

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OVER 1,100 OFFICES IN ENGLAND AND WALES

Agents Everywhere
BRITISH, COLONIAL AND FOREIGN BANKING

SAVINGS AND TRUSTEE DEPARTMENTS

AFFILIATED BANKS:

COUTTS & CO.
GRINDLAY & CO. LTD.

AUXILIARY:

Lloyds and National Provincial Foreign Bank Limited

PITMAN'S
BUSINESS MAN'S GUIDE

A.D.,

A]

[Aba A.

A/S.,

Account sales. This letter occurs in several contrac- Assn., Association. tions and abbreviations used in business. Asst.,

Assistant. The principal of these are the following- A/T., American terms (grain A., Anna (Indian coinage).

trade). At; for ; to ; from.

Ay.,

Average.
A.a.r.

Av. or avoir., Avoirdupois.
Against all risks.
A.r.

A/v., Ad valorem (according
AI,
First class.

to value). Abbr., Abbreviation.

A 1. (Fr. De premier ordre, Ger Abt.,

About A/C.,

ersten Ranges, erster Klasse, hochfein Account Current.

Sp. De primer orden, It. Di primo ordine.) A/c or acct., Account.

When Lloyd's Register of British and Ac., Acre.

Foreign Shipping was founded in 1834, Acc., Acceptance ; accepted.

the character Al was assigned to vessels Acct., Accountant.

with first-class hull and equipment. Ackgt., Acknowledgment.

The mark Al is very frequently apAnno Domini (In the

plied to goods to denote that they are year of the Lord).

of the very best quality. A.d. or A/d., After date.

The registration marks of Lloyd's Ad lib., Ad libitum (at pleasure).

Register have since been revised. (See Ads. or

Lloyd's Register.) adverts., Advertisements. Adv., Advice.

ABANDONMENT. (Fr. Délaissement, Ad val. Ad valorem (according Ger. Abtretung, Überlassung, Sp. Abanto value).

dono, It. Abbandono.) Affidavit.

In a policy of marine insurance, Aft., After, afternoon.

abandonment is of the essence of a A.g.b., A good brand ; or any claim for constructive total loss. It has good brand.

been judicially defined as a cession Agt., Agent ; against.

or transfer of the ship from the owner A.H., After hatch (shipping). to the underwriter, and of all his pro. A.M., Assurance Mutuelle

perty or interest in it, with all the claims (mutual assurance). that may arise from its ownership, and A.M., Ante meridiem (before all the profits that may arise from it, noon).

including the freight then being earned.” Amt., Amount.

A ship may not be actually lost or Anon., Anonymous.

completely destroyed, but it may be Ans., Answer.

reduced to a mere wreck or A/o., Account of.

geries of planks,” and its cargo may be Asor, And, or.

80 damaged as to exist only in the shape A.P., (1) è protester (to be

nuisance. This is called a con. protested-bills); structive total loss, and the test to be (2) Additional pro- applied seems to be this, that no prudent

mium (insurance). shipowner would go to the expense of App., Appendix.

repairing or re-instating the vessel, Appro., Approval.

because the market value of the reno. Approx., Approximate.

vated vessel would probably be less A/R., All risks (marine insur- than the cost of restoration. The ance).

insured then abandons the vessel or Arr., Arrive.

goods to the underwriter and claims Art., Article.

to recover on his policy as for a total loss.

114201

Afft.,

con

of a

Notice of abandonment must be given within a reasonable time by the owner after he has received reliable intelligence of the loss. It need not necessarily be in writing—it may be either express or implied from the conduct of the insurer -but it must be certain, unconditional, and of the whole thing insured. Where notice of abandonment is properly given, the rights of the insured are not prejudiced by the fact that the insurer refuses to accept the abandonment; but when once the notice has been accepted, abandonment is irrevocable. Of course, notice of abandonment may be waived by the insurer; and where it is a case of re-insurance of the risk, no notice at all is required to be given by the insurer.

in connection with actions at law, when either a plaintiff or a defendant desires to put an end to legal proceedings. The technical term for the abandonment of an action (Fr. Abandon, Ger. Aufgabe, Sp. Abandono, It. Abbandono) is discontinuance. This can always be effected upon certain terms, generally upon pay. ment of the whole of the costs which have been incurred.

ABATEMENT. (Fr. Baisse, bonification, rabais, réduction, remise, Ger. Ermässigung, Nachla88, Sp. Baja, rebaja, reducción, remisión, It. Bonificazione, ribasso, riduzione, abbassamento.)

The meaning of this term is allowance. Before the recent introduction of the

personal allowance," the term generally used in connection with the remission made from the total of a person's income when assessing him for the purpose of the income tax.

ABOVE PAR. (Fr. Au-dessus du pair, Ger. über Pari, Sp. Sobre el par, It. Sopra il pari.)

When the price of stocks or shares or other securities is higher than their nominal value, they are said to be

or at a premium. ABRASION OF COIN. (Fr. Action l'enlever par le frottement, frai, Ger. Abnutzung, Sp. Merma, It. Erosione di moneta.)

This means loss of weight which coins undergo in passing from hand to hand, or from being brought into contact with one another.

An English sovereign must not be issued by the Master of the Mint weighing less than 123.27447 grains, nor more than 123•47447 grains. There is thus a remedy allowance of .2 grain. If the

coin is reduced in weight below 122:5 grains it ceases to be legal tender. By law a person who has such a coin handed to him ought to cut or to deface it, and the offeror will have to bear the loss, for the mutilated coin has no more than its bullion value. In practice this is rarely done except at the Bank of England and at certain Government offices.

ABSTRACT OF TITLE. (Fr. Précis de titre, Ger. Kurzer Begriff des Titels, Sp. Sumario del titulo, It. Sommario di titolo. )

An outline of the evidence of the ownership of anything is called its abstract of title. The name is generally applied to the which sets out and material parts of the deeds, wills, settlements, or other documents which affect the title of a person to land. From an inspection of this document, a purchaser or a mortgagee is able more readily to deduce the title to the property which is in question. The first deed which is referred to in the abstract is called the “root of title."

ACCEPTANCE. (Fr. Acceptation, Ger. Annahme, Sp. Aceptación, It. Accettazione, accetto.) (See Contract, Sale.) ACCEPTANCE FOR HONOUR.

(Fr. Acceptation par intervention par honneur, Ger. Annahme per Intervention, Ehrenannahme, Sp. Aceptación por el honor, It. Accettazione per intervento.)

“ Where a bill of exchange has been protested for dishonour by non-acceptance, or protested for better security, and is not overdue, any person, not being a party already liable thereon, may, with the consent of the holder, intervene and accept the bill suprà protest, for the honour of any party fiable thereon, or for the honour of the person for whose account the bill is drawn."

The acceptance for honour must be written on the bill and signed by the acceptor, who engages by his acceptance to pay the bill according to its tenor, if it is not paid by the drawee. liability of the acceptor for honour extends to the holder and, to all parties to

bill subsequent to the

for whose honour he has accepted.

A bill may be accepted for honour for a part only of the sum for which it is drawn.

was

above par,"

The

the

one

ACCEPTANCE OF BILL OF EXCHANGE. (Fr. Acceptation, Ger.

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