Definition of DEFICIT in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms.
Definition of DEFICIT
Something wanting, generally in the . accounts of one intrusted with money, or in the money received by him. Mutual L. & B. Ass'n v. Price, 19 Fla. 135. The term is broad enough to cover defalcation, misappropriation, shrinkage, or costs, and, in its popular meaning, signifies deficiency from any cause. Clement v. Whisnant, 208 N.C. 167, 179 S.E. 430, 433, 101 A.L.R. 698.
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That's the definition of DEFICIT in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms. Courtesy of Cekhukum.com.
