TROPICS

Region lying between the Tropic of Cancer, north of the Equator and the Tropic of Capricorn, south of the Equator.

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TRUE INTEREST COST (TIC)

Total cost annually of getting debt finance that is expressed as a percept of the total account of debt.

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TROUBLED DEBT RESTRUCTURING

Process where a lender, bank, modifies loan agreement terms that will minimise losing custom from customer’s who are incapable financially to meet previous terms.

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TROUGH

An economics’ cycle lowest point. Compare to peak.

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TROVER

In common-law practice, the action of trover (or trover and conversion) Is a species of action on the case, and originally lay for the recovery of damages against a person who had found another’s goods and wrongfully converted them to his own use. Subsequently the allegation of the loss of the goods by the plaintiff and the finding of them by the defendant was merely fictitious, and the action became the remedy for any wrongful Interference with or detention of the goods of another. 3 Steph. Comm. 425. Sweet. See Burnham v. Pidcock, 33 Misc. Rep. 65, 66 N. Y. Supp. 806; Larsou v Daw- TROY WEIGHT 1175 TRUST son, 24 R. I. 317, 53 Atl. 93, 90 Am. St. Rep. 716; Waring v. Pennsylvania R. Co., 70 Pa. 496; Metropolis Mfg. Co. v. Lynch, 6S Conn. 459, 36 Atl. 832; Spellman v. Richmond & D. R. Co., 35 S. C. 475, 14 S. E. 947, 28 Am. St. Rep. 858.

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TROY WEIGHT

A weight of twelve ounces to the pound, having its name from Troyes, a city in Aube, France.

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TRUANT

the term that is given to a minor who is absent from school and does not have his parents’ permission to be absent.

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TRUCE

In international law. A suspension or temporary cessation of hostilities by agreement between belligerent powers; an armistice. Wheat. Int. Law, 442.

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TRUCK ACT

In English law. This name is given to the statute 1 & 2 Wm. IV. c. 37, passed to abolish what is commonly called the “truck system,” under which employers were in the practice of paying the wages of their work people in goods, or of requiring them to purchase goods at certain shops. This led to laborers being compelled to take goods of inferior quality at a high price. The act applies to all artificers, workmen, and laborers, except those engaged in certain trades, especially iron and metal works, quarries, cloth, silk, and glass manufactories. It docs not apply to domestic or agricultural servants. Sweet

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