Balance

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BALANCE, com. law. The amount which remains due by one of two persons, who have been dealing together, to the other, after the settlement of their accounts.
     2. In the case of mutual debts, the balance only can be recovered by the assignee of an insolvent, or the executor of a deceased person. But this mutuality must have existed at the time of the assignment by the insolvent, or at the death of the testator.
     3. The term general balance is sometimes used to signify the difference which is due to a party claiming a lien on goods in his hands, for work or labor done, or money expended in relation to those and other goods of the debtor. 3 B. & P. 485; 3 Esp. R. 268.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Woodwell said the volume of loans maturing in 2013 and 2014 will mark "cycle lows" for loan maturities, each representing less than 8 percent of the outstanding balance of loans.
Somebody with an outstanding balance of pounds 1,989 who repays the minimum 2.5% every month will take a staggering 22 years and 10 months to repay their entire balance, with an overall interest charge of pounds 2,490.
Vouchers cannot be used in conjunction with other offers or promotions, or for purchasing giftcards and financial services or in payment of any outstanding balance on your Debenhams account, with the exception of new account card opening discount.
The company has also exchanged a Term Note A, which had a current outstanding balance of USD6.6m that was scheduled to mature on August 1, 2009, for a new 11.5% convertible note with a conversion price of USD0.71 and a maturity date of August 31, 2010, and amended and extended, for an additional 12 months, an unexercised USD10m commitment from its lender.
* Will the practice renew prescriptions for or provide allergy immunizations to patients who have large outstanding balances?
The outstanding balance of short-term debt-financing bills rose to 45.83 trillion yen from 43.97 trillion yen, the ministry said.
The outstanding balance is expected to reach some 390 trillion yen by the end of next March.
It said that Foote, Cone & Belding (FC&B) has refused to extend the JTB's line of credit until at least a portion of the outstanding balance is paid up.
A new TPO elastomer is said to offer an outstanding balance of toughness and flexibility for energy management in auto interiors.
The employee uses the bridge loan to pay back the outstanding balance to the terminating plan and, upon entry into the new employer's plan, the employee takes a loan from the plan to pay back the bridge loan.
You only pay interest on the outstanding balance each day.
If they fail to make a payment, the IRS will treat the outstanding balance as an early distribution subject to taxes and an early-withdrawal penalty, and you must inform the borrowers of that.