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

Category: B

BYLINE

The byline on a newspaper or magazine article gives the name, and often the position, of the writer of the article.

BACKFITTING

Adding new equipment to existing workings to make it last longer. AKA retrofitting.

BACKORDER

An order that has to be filled later. The customer knows this and will wait. It is an important figure for customer services and inventory management.

BALANCE PROTECTION

Insurance that makes minimum monthly payments for credit cards. Its done if the insured is injured or unemployed. A percentage of the balance is the premium. It is added as a fee

BANNER

An electronic ad that is hot linked. The graphics are at the top or bottom of the page. It is 468 pixels wide and 60 pixels high. It is about 15 kilobytes

BARONE ADESI & WHALEY MODEL

A mathematical formula used to decide american options value for equity. The black scholes option pricing model is used to help this. AKA quadratic approximation method.

BASIC PREMIUM

The part of premium used for administrative and agents costs.

BEAUTY PARADE

1.when a business choice is made on apperance not facts. 2. a parade of presenters who bid on a job. Their credentials are used to represent them first. Cost estimates and solutions

BELLY OF THE CURVE

The intermediate maturities of the YIELD CURVE, generally considered to include the three to sevenyear sector. See also LONG END, SHORT END.

BENEFIT PRINCIPLE

A tax idea that parties that benefit more from government expenditures pay more taxes to support that very expenditure fund. Refer to ability to pay principle.

BERTRAND COMPETITION

When output and prices are set based on the idea that the competition will not change their prices. Refer to Cournot competition.

BEST IN CLASS

The best performance an industry can manage. Its the benchmark set to be done or bettered. AKA best of breed. Refer to best practice.

BIG TICKET ITEM

An item of high value liek cars and real estate to name two. It may not be a luxury item at all.

BINDER

An agreement between buyer and seller. Its commonly secured by the down payment. If the buyer changes their mind the seller must return the payment.

BIT

A digit in binary code. It is a b and is the smallest unit for computing information. The information is stored in 0s and 1s. Refer to byte.

BLACKBERRY

A mobile device that emails, web browsing, texts, schedules, and acts as a phone. All these functions are handled in one device. It keeps a person in constant contact with clients or

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