Balance

The amount which remains due by one of two persons, who have been dealing together, to the other, after the settlement of their accounts. In the case of mutual debts, the balance only can be recovered by the assignee of an insolvent or the executor of a deceased perat the time of the assignment by the insolvent, or at the death of the testator. It is often used in the sense of residue or remainder; Lopez v. Lopez. 23 S. C. 269; Skinner v. Lamb, 25 N. C. 155. The term general balance is sometimes used to signify the difference which is due to a party claiming a lien on goods in his hands for work or labor done, or money expended in relation to those and other goods of the debtor; 3 B. & P. 48£ Mc Williams v. Allan, 45 Mo. 573. The phrase "net balance" as applied to the proceeds of the sale of stock means in commercial usage the balance of the proceeds after deducting the expenses incident to the sale; Evans v. Wain, 71 Pa. 74.