act

The Commodity Exchange Act (1936) as amended by the Commodity Futures Trading Commission Act of 1974. Chicago Mercantile Exchange Glossary

* * *

I. act act 1 [ækt] noun [countable]
1. LAW a law that has been officially accepted by the governing body of a country:

• an act to regulate the carrying on of investment business

• the Homeland Security Act of 2002

— see also Act of Congress
2. a written agreement that has legal force
a law that combines two or more previous acts
  [m0] II. act act 2 verb [intransitive]
1. act as something to do a particular job or have a particular role:

• We will act as the company's agent for the sale.

• Mortgage brokers act as middlemen between borrowers and lenders.

2. act for somebody LAW if a lawyer acts for someone, he or she represents them in a legal case:

• the lawyer acting for the insurance company

3. act on somebody's behalf COMMERCE LAW to represent someone:

• The two parties may agree a price for the land or ask an agent to act on their behalf.

4. act on something to take action as a result of something that has been said, written, suggested etc:

• Congress is eager to act on the report.

• The administration hasn't yet acted on the request.

* * *

Ⅰ.
act UK US /ækt/ noun
[C] something that someone does: »

A partner may be held responsible for the acts of his co-partners committed in the name of the firm.

»

He has led an investigation into stock market manipulation and various illegal acts and swindles.

See also ACTION(Cf. action) noun
(also Act) [C] LAW a law or formal decision made by a parliament or other group of elected law-makers: »

The 2010 act, with its requirement for a review of financial controls, has helped drive up the cost of corporate audits by as much as 50%.

be a hard/tough act to follow — Cf. be a tough act to follow
get in on the act — Cf. get in on the act
get your act together — Cf. get your act together
See also CONSOLIDATING ACT(Cf. ↑consolidating act)
Ⅱ.
act UK US /ækt/ verb [I]
to do something with the intention of achieving a particular result: act to do sth »

Engineers will need to act quickly to repair the damaged pipes.

act quickly/swiftly/now »

Anyone who wants a fixed-rate deal should act now.

act decisively/improperly/responsibly »

It is now time for management to act decisively.

act against/in sb's interests »

There were claims that the management was acting against shareholders' interests.

»

Members should act in the best interests of the company.

act in good faith — Cf. act in good faith

Financial and business terms. 2012.

Synonyms:

Look at other dictionaries:

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