Law Dictionary Definitions

book value.The value at which an asset is carried on a balance sheet. Cf. BOOK EQUITY . adjusted book value.Inventory value adjusted to reflect the inventory’s current actual value.[Blacks Law 8th]

Books of Sederunt.Scots law. The records of the Court of Session.[Blacks Law 8th]

.Scots law. The records of the High Court of Justiciary.[Blacks Law 8th]

books of account.See SHOP BOOKS.[Blacks Law 8th]

book of original entry.A day-to-day record in which a business’s transactions are first recorded[Blacks Law 8th]

bookmaking. Gambling that entails the taking and recording of bets on an event, such as a horse race. [Cases: Gaming  73.][Blacks Law 8th]

bookmaker. A person who determines odds and receives bets on the outcome of events, esp. sports events. See BOOKMAKING[Blacks Law 8th]

bookie. See BOOKMAKER. [Blacks Law 8th]

bookland (buuk-land).Hist. Land held under charter or deed; freehold land. • This was a privileged form of ownership (usu. free of the customary burdens on land) generally reserved for churches and leaders. — Also spelled bocland; bockland. — Also termed charter-land. Cf. LOANLAND; FOLKLAND. “Charter-land is such as a man holds by charter, that is,…

bookkeeping,n. The mechanical recording of debits and credits or the summarizing of financial information, usu. about a business enterprise. Cf. ACCOUNTING. double-entry bookkeeping.A method of bookkeeping in which every transaction recorded by a business involves one or more “debit” entries and one or more “credit” entries. • The debit entries must equal the credit entries…