exempt
Definition 1
Debtor's asset or property that cannot be seized under bankruptcy proceedings.
Definition 2
Free or released from an obligation, restriction, or responsibility to which others are subject.
email to a friend
print this definition
cite this definition
link to this page
exempt is in the Accounting & Auditing, Banking, Commerce & Finance and Corporate, Commercial, & General Law subjects.
exempt appears in the definitions of the following terms:
force majeure,
tax-exempt bond,
value added tax (VAT),
grandfather clause,
tax free exchange,
accredited investor,
building inspector,
bill of health (B/H),
most favored nation (MFN),
dormant firm
and
exempt appears in these other terms: tax exemptions, exemption, tax exempt, exemption clause, dependency exemption, personal exemptions
This content can be found on the following page:
http://www.businessdictionary.com/definition/exempt.html