Business, Legal & Accounting Glossary
Something done; usually, something done intentionally or voluntarily or with a purpose.
The term encompasses not only physical acts—such as turning on the water or purchasing a gun—but also refers to more intangible acts such as adopting a decree, edict, law, judgment, award, or determination. An act may be a private act, done by an individual managing his or her personal affairs, or it may be a public act, done by an official, a council, or a court. When a bill is favorably acted upon in the process of legislation, it becomes an act.
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This glossary post was last updated: 8th October, 2021 | 0 Views.