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receivable,adj.1. Capable of being admitted or accepted <receivable evidence>.2. Awaiting receipt of payment <accounts receivable>.3. Subject to a call for payment <a note receivable>. receivable,n. An amount owed, esp. by a business’s customer. See account receivable under ACCOUNT. unrealized receivable.An amount earned but not yet received. • Unrealized receivables have no income-tax basis for cash-basis…

receiptor (ri-see-t<<schwa>>r). A person who receives from a sheriff another’s property seized in garnishment and agrees to return the property upon demand or execution. [Cases: Execution 150. C.J.S. Executions §§ 130–131.] [Blacks Law 8th]

receipt clause.In a conveyancing document, a clause that acts as a receipt for the consideration given. • This clause typically appears to avoid the necessity of a separate receipt. [Blacks Law 8th]

receipt,n.1. The act of receiving something <my receipt of the document was delayed by two days>.2. A written acknowledgment that something has been received <keep the receipt for the gift>. accountable receipt.A receipt in which a person admits that goods or money were delivered to the person and that the person is obliged to deliver…

receding market.See bear market under MARKET. [Blacks Law 8th]

recede,vb. (Of a house in a bicameral legislature) to withdraw from an amendment in which the other house has not concurred. See CONCUR(3). “A vote to recede from amendments constitutes a final passage of the bill without the amendments from which the house has receded, since both houses have then agreed to the bill in…

recapture rule.Patents. The doctrine that a patentee cannot regain, in a reissue patent, a claim that the patentee previously abandoned in order to gain allowance of the patent application. • The rule provides a defense in an infringement action by allowing the defendant to attack the validity of a reissue patent. An attempt to recapture…

recapture clause. 1. A contract provision that limits prices or allows for the recovery of goods if market conditions greatly differ from what the contract anticipated. 2. A commercial-lease provision that grants the landlord both a percentage of the tenant’s profits above a fixed amount of rent and the right to terminate the lease —…

recapture,n.1. The act or an instance of retaking or reacquiring; recovery. 2. The lawful taking by the government of earnings or profits exceeding a specified amount; esp., the government’s recovery of a tax benefit (such as a deduction or credit) by taxing income or property that no longer qualifies for the benefit. [Cases: Internal Revenue…

recaption. 1. At common law, lawful seizure of another’s property for a second time to secure the performance of a duty; a second distress. See DISTRESS. 2. Peaceful retaking, without legal process, of one’s own property that has been wrongfully taken. [Blacks Law 8th]