Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: A

AUDITEE

The business or individual that is being audited.

AUTHORIZATION

1.how a party is verified when they start a transaction. 2. giving or denying access to a user based on their autheniciation and authorization.

AUTOMATIC CLEARINGHOUSE (ACH)

In the United States a national ELECTRONIC FUNDS TRANSFER network that clears and settles recurring payments between financial institutions, as well as debits and credits generated through businesstobusiness commerce and trade transactions.

AVERAGE CHART

A chart that uses subgroup averages to decide the stability of a process.

AWARD

1. To take a bid for a contract. 2. a written decision for court that must be followed.

ADMITTED INSURANCE

An INSURANCE contract written by an ADMITTED INSURER that is authorized to do business in the state or jurisdiction where the policy is issued. See also NONADMITTED INSURANCE.

ADVERSE FINANCIAL SELECTION

When cash is given for insurance policy due to extreme need on the insured’s part. The money may also be reinvested somewhere else.

AFFILIATE

Companies that have a shared resources, interests, or business dealings. Or a website that sells products they don’t physically own for commission. Refer to susidiary.

AGENCY SHOP CLAUSE

When union members must pay a fee monthly. It is for employees of a company that requires employees to join the union.

AGGRESSIVE

Taking greater loss to possibly make a greater profit that does not rely on chance.

AIR RAGE

When a passenger on an aircraft becomes voilent or difficult due to stress or fear.

ALCOHOLS

A chemical compound that has carbon, hydrogen, and oxygen. They can be solid, liquid, or insoluable. They are used to sell as liquor or as a cleaner. Ethyl alcohol is AKA ethanol.

ALL-OR-NONE ORDER

An ORDER to purchase or sell securities that must be filled completely or not at all. Allornone orders are often marked FILL OR KILL. See also ALLORANY PORTION ORDER.ALLORNONE UNDERWRITING A NEW

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