Ledger

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Ledger

The principal book of accounts of a business enterprise in which all the daily transactions are entered under appropriate headings to reflect the debits and credits of each account.

Information that is contained in a ledger can be admitted into evidence in a lawsuit pursuant to the business record exception of the Hearsay rule.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

LEDGER, commerce, accounts, evidence. A book in which are inscribed the names of all persons dealing with the person who keeps it, and in which there is a separate account, composed generally of one or more pages for each. There are two parallel columns, on one of which the party named is the debtor, and on the other the creditor, and presents a ready means of ascertaining the state of the account. As this book is a transcript from the day book or journal, it, is not evidence per se.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.