A lawsuit that is brought by a representative for a larger group of people. For example if a company sells a product that is found to be defective, a class action suit might be brought in court for anyone who purchased that product.

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser