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Simple English definitions for legal terms
disbursement
Read a random definition: de bono et malo
A quick definition of disbursement:
Term: DISBURSEMENT
Definition: Disbursement means paying out money from a fund or to settle a debt or account payable. For example, when a company pays its employees' salaries, it is a disbursement. Disburse is the verb form of disbursement.
A more thorough explanation:
Definition: Disbursement is the act of paying out money from a fund or in settlement of a debt or account payable.
Example: The company made a disbursement of $10,000 to its shareholders as a dividend payment.
Explanation: In this example, the company paid out money from its funds to its shareholders as a dividend payment. This act of paying out money is called disbursement.
Example: The disbursement of the loan amount was made to the borrower's account.
Explanation: In this example, the lender paid out the loan amount to the borrower's account. This act of paying out money is called disbursement.
Example: The disbursement of the settlement amount was made to the plaintiff's attorney.
Explanation: In this example, the defendant paid out the settlement amount to the plaintiff's attorney. This act of paying out money is called disbursement.