exception


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Exception

A proxy which does not authorize the proxy committee to act on its behalf concerning any other business, adjournments or substitutions.

Exception

1. In a publicly-traded company, a proxy that does not authorize the proxy committee to act on his/her behalf. Such a proxy makes his/her own arrangements.

2. In an audit of a financial statement, a note stating that the auditor agrees with a majority of the statement, but not with certain parts. That is, exceptions are written when the auditor believes that the majority of the financial statement is accurate, but that there are a few inaccuracies scattered throughout. Exceptions are noted in the auditor's report.

exception

An auditor's qualification of a financial report that indicates disagreement with an item in the report or limitations to the extent of the audit.

exception

(1) Estates or described lands specifically spelled out in a deed as not passing to the grantee. (2) Liens and claims specifically excluded from the coverage of a title insurance policy. (3) Liens and claims specifically excluded from a contract of sale.

References in classic literature ?
With these exceptions (and with that of the perfect fertility of varieties when crossed,--a subject hereafter to be discussed), domestic races of the same species differ from each other in the same manner as, only in most cases in a lesser degree than, do closely-allied species of the same genus in a state of nature.
Of land-birds I obtained twenty-six kinds, all peculiar to the group and found nowhere else, with the exception of one lark-like finch from North America (Dolichonyx oryzivorus), which ranges on that continent as far north as 54 degs.
All these species are peculiar to this archipelago; and so is the whole group, with the exception of one species of the sub-group Cactornis, lately brought from Bow Island, in the Low Archipelago.
With the exception of a wren with a fine yellow breast, and of a tyrant-flycatcher with a scarlet tuft and breast, none of the birds are brilliantly coloured, as might have been expected in an equatorial district.
Mauritius offers an apparent exception, where I saw the Rana Mascariensis in abundance: this frog is said now to inhabit the Seychelles, Madagascar, and Bourbon; but on the other hand, Du Bois, in his voyage in 1669, states that there were no reptiles in Bourbon except tortoises; and the Officier du Roi asserts that before 1768 it had been attempted, without success, to introduce frogs into Mauritius -- I presume for the purpose of eating: hence it may be well doubted whether this frog is an aboriginal of these islands.
Three of the villagers did certainly assure us that they had seen the woman, but as they were quite unable to describe her, and quite incapable of agreeing about the exact direction in which she was proceeding when they last saw her, these three bright exceptions to the general rule of total ignorance afforded no more real assistance to us than the mass of their unhelpful and unobservant neighbours.
In giving all these descriptions of what I saw during my mouth of travel in the country around Tuskegee, I wish my readers to keep in mind the fact that there were many encouraging exceptions to the conditions which I have described.
Although school districts apply for exceptions under Act 1, many do not enact the maximum tax rates granted through the exception process.
The not so good news: The cap exception is valid for 2006 only.
69-587 and Eastman Kodak predate the effective date of the recurring item exception.
Taxpayers could also use the procedure to "correspondingly change their accounting methods to use the economic performance 3 1/2-month rule or recurring-item exception in conjunction with the items changed under the 12-month rule, by including this information on the same Form 3115.
for hundreds of thousands of Native Americans practicing their faith, it is difficult to see how those same findings alone can preclude any consideration of a similar exception for the 130 or so American members of the UDV who want to practice theirs," Roberts wrote.