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intendment |
Also found in: Legal | 0.03 sec. |
intendment [ɪnˈtɛndmənt] n
1. (Law) the meaning of something as fixed or understood by the law 2. Obsolete intention, design, or purpose Translations intendment How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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a mere promise to pay, not represented by notes or secured in any way, is not regarded as a receipt of income within the intendment of the cash receipts method . I happen to agree with the conclusions of your editorial and I admire Feinberg's compassion, but even more so, I believe that the rule of law requires one to carry out a valid, if flawed, mandate according to its plain intendment. Under IRS Revenue Ruling 60-31, "(a) mere promise to pay, hot represented by notes or secured in any way, is not regarded as a receipt of income within the intendment of the cash receipts and disbursements method. |
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