CHATTEL MORTGAGE CONTRACT Definition

Bookmark and Share

CHATTEL MORTGAGE CONTRACT is a credit contract used for the purchase of equipment where the purchaser receives title of the equipment upon delivery but the creditor holds a mortgage claim against it.

Learn new Accounting Terms

SG&A refers to the indirect overhead costs contained within the Sales, General and Administrative expense/cost categories. Generally, SG&A expenses of <30% are exceptional, while SG&A approaching 100% indicates a highly competitive industry. Consistency of SG&A is key.

TIME DRAFT is a draft that matures either a certain number of days after acceptance or a certain number of days after the date of the draft. See SIGHT DRAFT.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.