Balance

2 1.

Excess on one side of an account. The conclusion or result of the debit and credit sides of an account. 3 Implies mutual dealings, and the extension of debit and credit.'

3.

Residue or remainder; as, the balance of an estate.

4 General balance.

Such sum of money as is due for services rendered by a person to whom two or more articles have been bailed for purposes of transportation, for the bestowal of work and labor, or on account of which money has been expended. See Ll EiN, Particular.

Net balance

Applied to the proceeds of a sale of stock, means, in commercial usage, the balance of the proceeds after deducting the expenses incident to the sale.s In some States a balance found to be due from an executor, administrator, or guardian, may be entered of record as a judgment. In suits arising out of mutual accounts the jiuy may find a balance due to the defendant which, by certificate of the court, becomes a judgment against the plaintiff.

Partial balance

A balance found upon a partial settlement of accounts, as between partners.

Pinal balance

The balance at final settlement of a portion of the items of an account, or of all the items, and for a limited period of time or for the whole period covered by dealings or transactions. An express promise by a partner to pay a partial balance is the most satisfactory evidence of an intention to separate the items included in the settlement from the rest of the joint affairs. To constitute such an agreed final balance as will support an action by one partner against his copartner, the balance must have received the assent of both partners, binding them to an admission of its correctness.'

See Account, 1.