(1). An obscure legal penalty that has no real possibility of being imposed, but that lawyers like to bring up to scare their clients into hiring them to do more legal work.
“Don’t listen to Maureen, Patty. She just likes telling ghost stories. There’s no way anyone’s ever going to sue us over our use of the word ‘fee’ in our fee schedule. It’s a fee schedule! What else are we supposed to call it!”
(1). In most industries, an acronym for “cover your ass”. The term is most often used when describing an email or voicemail sent to your boss about some problem before anyone else beats you to it (see post).
“You should send Tim an email about this right now, Joe. Just as a CYA. Better he hear it from you before anyone else…”
(2). In accounting, an acronym for “call your accountant”. The term is usually used after receiving some kind of letter from the IRS.
“I would CYA on this, Ken. It says you haven’t filed a return since 1987. I know you’re backing Ron Paul for president, but…”