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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 ?
LIONEL THE FIRST (DEVELOPMENT) | Loan value: PS25,000 | Amount recouped: Zero | Negative balance: PS25,000.
The survey of 398 firms, which was conducted between February 21 and March 13, suggested total output growth remained subdued but steady, with a negative balance of 15% compared with minus 14% in February.
He also failed to perform a required three-way reconciliation of his IOLTA account every 60 days, failed to maintain proper records of transactions, and issued checks drawn on the account that created a negative balance. He also failed to confirm that he received money for a real estate closing.
Moreover and most importantly, if the account balance is negative, the benefit is nonetheless paid to the worker and the negative balance of his/her account is further increased.
The balance of companies expecting better profits over the next six months was positive, rising to four per cent from a negative balance of - 22 per cent in June.
It appears the investment went against him and his account went into negative balance.
There's a negative balance of -20 in workload perceived in their sectors, so engineers think their firms are busier than their rivals.
There was also a record negative balance for expected business expansion over the next 12 months.
For the first time since 2001, France registered a negative balance of 62m euros ($90m) because of the sharp increase of Bahraini exports of refined oil products, which have more than doubled from $10m to $240m.
The part of the scheme to be investigated would reduce the tax rate for interest on intra-group loans (capital injections are already tax exempt) from the general corporate rate of 25.5% to 5%: a positive balance to be taxed at 5%; a negative balance to be deductible at the same rate.
John Longworth, executive director of Asda and chairman of the CBI's distributive trades panel, said: "The survey shows a negative balance for retail sales growth during November, which is clearly disappointing.
The negative balance of minus 18% compares with minus 11% in January.

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