Reserves
/ɹɪˈzɜrvz/
Definitions
- (n.) Assets or funds set aside by an organization or government for specific future liabilities or contingencies.
The company maintained reserves to cover potential legal claims.
- (n.) Mineral, oil, or natural resource quantities identified for extraction under current economic and legal conditions.
The oil company reported increased gas reserves in the region.
Related terms
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Commentary
Legal usage of reserves often requires precise definition in contracts and financial statements to distinguish from general assets or provisions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.