LIMITATION Definition

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LIMITATION, in contracts, is a certain period limited by statute after which actions, suits, or prosecutions cannot be brought in the courts.

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CARRYING VALUE, also known as "book value", it is a companys total assets minus intangible assets and liabilities, such as debt.

CAPITAL RECEIPTS is proceeds from the sale of capital assets. They may be used to finance new capital expenditure or repay existing loan debt. Receipts available to finance capital expenditure in future years are normally held in the usable capital receipts reserve.

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