Association

Business, Legal & Accounting Glossary

Definition: Association


Association

Quick Summary of Association


a formal organization of people or groups of people




What is the dictionary definition of Association?

Dictionary Definition


(often in names) a group of people organized for a joint purpose.

  1. The act of consorting with or joining with others.
  2. (ecology) a group of organisms (plants and animals) that live together in a certain geographical region and constitute a community with a few dominant species.
  3. A formal organization of people or groups of people.
  4. The process of bringing ideas or events together in memory or imagination.
  5. (chemistry) any process of combination (especially in solution) that depends on relatively weak chemical bonding.
  6. A social or business relationship.
  7. A relation resulting from interaction or dependence.
  8. The state of being connected together as in memory or imagination.

n. any group of people who have joined together for a particular purpose, ranging from social to business, and usually meant to be a continuing organization. It can be formal, with rules and/or bylaws, membership requirements and other trappings of an organization, or it can be a collection of people without structure. An association is not a legally established corporation or a partnership. To make this distinction the term “unincorporated association” is often used, although technically redundant.


Full Definition of Association


An association is any group of people operating together for a common purpose.

An unincorporated association is an association that has no distinct legal personality apart from its members. The law that applies to any unincorporated association is the law that applies to its members. However, an association that takes the form of a corporation (e.g. a registered company) is a distinct legal entity in its own right. This type of association may own land, sue, be sued, and enter into contracts as a separate ‘legal person’.


Examples of Association in a sentence


They were part of the same association so they needed to be able to work together in a positive manner.

You need to make sure that you do not have anyone with a bad reputation involved with your association in any way.

When our company CEO was accused of wrongdoing, a group of lower executives met as an association to decide whether to confront the board of directors about removing him from office.


Related Phrases


Advanced Detection System
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LLP
memorandum and articles of association
federal agency securities
total monthly housing costs
EU
Bank Card Association
Federal Land Bank
Institute For Supply Management (ISM)
International Development Association
Managed Funds Association (MFA)
Bank Card Association
National Association of Investors Corporation
Securities Industry and Financial Markets Association
memorandum and articles of association
National Introducing Brokers Association (NIBA)
Securities Industry Association
National Association of Certified Valuation Analysts (NACVA)
New York Clearing House Association


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/association/
Modern Language Association (MLA):
Association. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
January 24, 2022 https://payrollheaven.com/define/association/.
Chicago Manual of Style (CMS):
Association. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/association/ (accessed: January 24, 2022).
American Psychological Association (APA):
Association. PayrollHeaven.com. Retrieved January 24, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/association/

Definition Sources


Definitions for Association are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 7th November, 2021 | 5 Views.