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

Category: B

BELOW PAR

A security that sells below par value. It is discounted. The face value is 100 and the discount is a factor of 100. AKA at a discount.

BENELUX

A union between Belgium, Netherlands, and Luxembourg. It was stared in 1948 to decrease imports and let labor and capital move between the countries. Its now a part of the European Union.

BESSEMER PROCESS

When air is pushed into a furance burning off impurities. It makes pig iron more pure. It is the old method of steal manufacturing.

BEST PRACTICABLE ENVIRONMENTAL OPTION (BPEO)

The UK practice of controlling pollution without penalties. The costs of pollution are covered by economic benefits. It allows more that would be standard emissions. AKA best practicable means.

BID DATE

A date and time a bid is to be submitted by. AKA bid time.

BILATERAL

Something that affects two parites. Refer bilateral contract, bilateral modification, bilateral monopoly, and bilateral rights.

BILLING

Making an invoice for sales recovery. AKA invoicing. Refer to billings.

BIO MONITORING

1. analyzing a sample of an organism to see if they were exposed to hazardous substances and how much. 2. using live animals to test pollution in an environment.

BLACK BOX TRADING

A trading system investors use as rules for selling and buying signals. The secrecy of this method is appealing to the investors.

BLACKOUT PERIOD

When a survivor stops getting their benefits and starts getting retirement benefits.

BLOCKBUSTER DRUG

A drug that is popular with sales of at least $1B. It can be profitable despite disadvantages. If a side effect is shown dangerous than money is lost. Eventually it will lose

BLUE OCEAN

When a market has a space for development. It was invented by Chan Kim and Renee Mauborgne.

BOOK CLUB

A firm that sells books to members by mail or internet. The member must buy a certain amount of books to get discounts. It is run on an opt in method and

BOOKKEEPING

Recording financial aspects of transactions in accounting books.

BOT

The larva of the botfly, which is an internal parasite of animals. Or a robot.

BOUNDARY ROLES

The function assumed or part played by a person or thing in a particular situation.

BRAND NAME SPECIFICATION

A specification that cites a brand name, model name, model number or some other designation that identifies a specific product as an example of the desired quality of merchandise.

BREAKDOWN

A failure of a relationship or of communication or a collapse of a system of authority due to widespread transgression of the rules.

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