exclusion definition

exclusion

Specific condition, circumstance, or situation usually listed in a contract as being not covered. All contracts (including insurance policies and construction contracts) contain exclusions, expressly or by implication.

Asset or income that can be legally excluded from computation of gross income. See also exemption.

exclusion is in the Accounting & Auditing and Agreements & Contracts subjects.

exclusion appears in the definitions of the following terms: tax incentive, necessary party, all risks insurance, attachment, tax expenditure, bilateral discharge, debarment, residuary trust, exclusion clause, tax planning and

exclusion appears in the other terms: exclusionary rules, exclusion of witnesses

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