ALLONGE Definition

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ALLONGE is a piece of paper attached to a negotiable instrument to allow space for writing endorsements.

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RECEIVERSHIP is equitable remedy whereby a court orders property placed under the control of a RECEIVER so that it may be preserved for the benefit of affected parties. A failing company may be placed in receivership in an action brought by its creditors. The business is often continued but is subject to the receivers control. See also BANKRUPTCY.

PURCHASING POWER is the value of a particular monetary unit in terms of the amount of goods or services that can be purchased with it, i,e, the ability to purchase, generally measured by income.

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