credit

The ability of a business or person to borrow money, or obtain goods on time, in consequence of the favorable opinion held by the particular lender as to solvency and past history of reliability. In re Ford, B.C.Wash., 14 F.2d 848, 849.
Confidence in buyer's ability to meet financial obligations at some future time.
Time allowed to the buyer of goods by the seller, in which to make payment for them.
The correlative of a debt; that is, a debt considered from the creditor's standpoint, or that which is incoming or due to one. That which is due to a person, as distinguished from debit, that which is due by him. Claim or cause of action for specific sum of money.
Availability of funds from financial institution or from letter of credit.
"Credit" means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment. Uniform Consumer Credit Code, Section 1.301(7).
In accounting, a credit is a component of a journal entry which increases revenues, liabilities, and equity; and decreases assets and expenses.
In taxation, credits reduce the tax liability as computed, as opposed to deductions which reduce the taxable income. Examples of tax credits include; credit for child and dependent care expenses, credit for the elderly or permanently disabled, etc.
- investment tax credit
- open credit
- open-end credit
- revocable credit
Compare debit.
bank credit
Money that bank owes or will lend individual or person. See also bank credit
Bill of credit.
See bill

Black's law dictionary. . 1990.

Synonyms:

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  • CRÉDIT — Le mot crédit est en usage dans des domaines très divers: commerce, comptabilité, banque, législations financière, fiscale et pénale, droit des affaires, sciences morales, politiques et économiques. Toutes les acceptions, cependant, restent… …   Encyclopédie Universelle

  • credit — cred·it 1 n 1: recognition see also full faith and credit 2 a: the balance in an account which may be drawn upon and repaid later compare loan …   Law dictionary

  • crédit — CRÉDIT. s. m. Réputation où l on est d être solvable et de bien payer, qui est cause qu on trouve aisément à emprunter. Bon crédit. Grand crédit. Il a crédit, bon crédit chez les Marchands, sur la place. S il avoit besoin de cent mille écus, il… …   Dictionnaire de l'Académie Française 1798

  • Credit — Crédit  Pour le credits qui recense les participants d une œuvre, voir générique de cinéma. Un crédit est une créance pour un prêt ou plus généralement une ressource pour l entreprise. Le sens étymologique de crédit est la confiance accordée …   Wikipédia en Français

  • credit — Credit. s. m. Reputation où l on est de bien payer, & qui est cause qu on trouve aisément à emprunter. Bon credit, grand credit. il a credit, bon credit chez les Marchands, sur la place. s il avoit besoin de cent mille escus il les trouveroit sur …   Dictionnaire de l'Académie française

  • credit — CRÉDIT, credite, s.n. 1. Relaţie (economică) bănească ce se stabileşte între o persoană fizică sau juridică (creditor), care acordă un împrumut de bani sau care vinde mărfuri sau servicii pe datorie, şi o altă persoană fizică sau juridică… …   Dicționar Român

  • Credit — Cred it (kr[e^]d [i^]t), n. [F. cr[ e]dit (cf. It. credito), L. creditum loan, prop. neut. of creditus, p. p. of credere to trust, loan, believe. See {Creed}.] 1. Reliance on the truth of something said or done; belief; faith; trust; confidence.… …   The Collaborative International Dictionary of English

  • credit — [kred′it] n. [Fr crédit < It credito < L creditus, pp. of credere: see CREED] 1. belief or trust; confidence; faith 2. Rare the quality of being credible or trustworthy 3. a) the favorable estimate of a person s character; reputation; good… …   English World dictionary

  • Credit — may refer to: Debits and credits, a type of book keeping entry Credit (creative arts), acknowledging the ideas or other work of writers and contributors Course credit, a system of measuring academic coursework Credit (finance), the granting of a… …   Wikipedia

  • Credit — Cred it (kr[e^]d [i^]t), v. t. [imp. & p. p. {Credited}; p. pr. & vb. n. {Crediting}.] 1. To confide in the truth of; to give credence to; to put trust in; to believe. [1913 Webster] How shall they credit A poor unlearned virgin? Shak. [1913… …   The Collaborative International Dictionary of English

  • credit — ► NOUN 1) the facility of being able to obtain goods or services before payment, based on the trust that payment will be made in the future. 2) an entry in an account recording a sum received. 3) public acknowledgement or praise given for an… …   English terms dictionary

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