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

Category: B

BIG BEAST

A person who seems larger than life in their field.

BILATERAL MONOPOLY

When the market has one buyer and one seller. Its common in intermediate states in production. A monopoly or monopsoly is different than this term.

BILLIONTH

A single part in a billion. The fraction for it is 1/1,000,000,000.

BIOTA

Any nonhuman life in the geographical area.

BLACK SCHOLES OPTION-PRICING MODEL

How European options are valued for the sake of equities. The stocks volatility, price, dividends, interest rates, and expiration are used. The assumptions used are no dividend pay, simultaneous trading, no commissions,

BLAST FURNACE

A metal cylinder that is lined with bricks used to remove impurities from iron. High air pressure is pushed through the bottom to make the process of purification faster.

BLOATWARE

A software application that takes up too much space with its useless extra features. It is often poorly written.

BLOOM

A rectangle or almost square metal form that is not finished. It is between the stages of ingot and billet. It is 15 to 20 feet long and 36 In2. The rolling

BOARDING PASS

A form passengers are given when boarding a transportation vehicle. Their seat number is on the pass to show its reserved for them.

BOND

1.a signed promise to pay an amount to do something on a date. Documents like contracts and loan agreements are bonds. 2.a contract with three parties. One party gives guaranty to a

BOOK SIZE

The size a book takes up when closed and lieing on its back. It is measured head to tail and from spine to the edges of a cover. There is no standard

BOOT

1. Computing: Refer to booting 2. Law: Compensation for an unfair exchange. 3. Taxation: When a non-taxable exchange is made into a taxable one, to it’s fair price value.

BOTTOM-UP BUDGETING

In contrast to top down budgeting, all of the budgets that are previously prepared by managers of departments are made into one for the needs of the entire company.

BRACKET CREEP

Movement into a higher tax bracket as taxable income increases.

BREADBOARD CONFIGURATION

An experimental device (or group of devices) used to determine feasibility and to develop technical data. It will normally be configured for laboratory use to demonstrate the technical principles of immediate interest.

BREAKOUT SESSION

Small group sessions, held during the main event, formed to focus on specific subjects relevant to the gathering.

BRITTLENESS

A material is brittle if, when subjected to stress, it breaks without significant deformation (strain). Brittle materials absorb relatively little energy prior to fracture, even those of high strength.

BROKERAGE GENERAL AGENT

An independent firm or contractor working for an insurance company whose main function is to sell one or more insurance products to select insurance brokers.

BUBBLE COMPANY

A company whose valuation greatly exceeds that suggested by its fundamentals. The first well-documented bubble company was the South Sea Company, which caused the South Sea Bubble in 1720. A bubble company

BUILDING SERVICE CONTRACT

When an arrangement is made to upkeep and repair services and equipment such as AC, building maintenance and janitorial services. Other services might include landscaping, window washing and other commodities.

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