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

Category: B

BANDWAGON EFFECT

The idea that people will do something simply becasue others are. The individuals own feelings and beliefs are not considered in this action. AKA herd mentality.

BAREBOAT CHARTER

A charter when the charterer leases a vessel with no crew. A crew is chosen by the party leasing. AKA dry lease.

BASELINE

1. the starting point for comparison. 2. the basic proposal given when a request is sent out. Refer to acquisition program baseline, contracnt budget baseline, and performance measurement baseline. 3. the line

BAYES’ THEOREM

A way to predict when an event will occur based on another event happening or not happening. It was named after Thomas Bayes a probability researcher.

BELIEFS

The ideas true to a party that believes it.

BENEFICIAL OWNER

The actual owner of securities and the rightful recipient of the benefits accorded; the beneficial owner is often different from the title holder (generally a financial institution holding the securities on behalf

BERMUDA AGREEMENT

In 1946 three more freedoms were added to the 1944 Chicago convention. The US and the UK allowed an airline to pick up cargo or passengers from their mother country and get

BEST VALUE

When the best benefit comes from a trade off of price and performance.

BIG BANKS

The banks with the most assets in an area. It is listed per country.

BIOSPHERE

The atmospheric layer that has the whole terrestrial eco system in it. It has all living things in it and supports soil, water, and air. AKA ecosphere.

BLACK MONEY

Cash that is not taxed or recorded involved in the black economy or organized crime. It must be laundered to become legitimate.

BLANKING

The act of cutting or punching metal into a shape.

BLIND TRUST

When the party that has a trust doesn’t know who gave it to them. It prevents conflict of interest. The funds are under the control of the party who has the trust.

BLURB

When a publisher has a summary written to reccomend a book. It is printed on the books dust jacket or in an ad.

BOLLINGER BANDS

When three points make an upper and lower trading channel. There are two standard deviations and a middle line. When price changes its measured over 20 days for a moving average.

BOOK PROFIT

The current face value of a bond that is recorded in a statement.

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