Examlex
Shakira was injured by the explosion of a widget that was manufactured by Delta Corp. The evidence indicates that Delta was not careless with respect to the manufacture or design of the widget, nor did the company carelessly fail to issue a warning regarding the danger of explosion. Nevertheless, Delta may be held strictly liable to Shakira on the basis of some other cause of action if she bought the widget from the company.
Past-due Account
An account that has not been paid by the due date, indicating overdue payments.
Receivable
Amounts of money owed to a company by customers or clients for goods or services delivered but not yet paid for.
Average Collection Period
The average collection period is the average number of days it takes for a business to receive payments owed by its customers for sales made on credit.
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