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

Category: B

BOOMLET

A minor temporary increase in asset price or index. The increase is small but is still significant and noticeable and also applies to population and commercial activity.

BOTTOM UP

Top-down and bottom-up are strategies of information processing and knowledge ordering, mostly involving software, but also other humanistic and scientific theories (see systemics). In practice, they can be seen as a style

BOX MANUFACTURER’S CERTIFICATE (BMC)

A statement printed within a circular or rectangular border on a corrugated or solid fiberboard box guaranteeing that all applicable construction requirements of the carrier classification have been observed and identifying the

BREACH OF CONTRACT

Failure to live up to the terms of a contract. The failure may provoke a lawsuit, in which an aggrieved party asks a court to award financial compensation for the loss brought

BREAKOUT

A forcible escape, typically from prison or suddenly and extremely popular or successful.

BRITISH THERMAL UNIT (BTU)

A traditional unit of energy equal to about 1,055 joules. It is approximately the amount of energy needed to heat 1 pound (0.454 kg) of water (i.e. exactly one tenth of a

BRUSSELS TARIFF NOMENCLATURE (BTN)

A list of classification of commodities for Customs purposes which is also used as a basis for their freight tariff by many shipping lines. Each commodity has a unique code known as

BUILD, OWN, OPERATE, TRANSFER (BOOT)

A public-private partnership (PPP) project model in which a private organization conducts a large development project under contract to a public-sector partner, such as a government agency. A BOOT project is often

BUMBERSHOOT POLICY

nsurance. A bumbershoot policy is a type of umbrella coverage designed specifically to insure marine risks, but it can also include non-marine risks.

BUREAU INSURER

Insurance company that is a member of a rating bureau. The insurer usually joins such an organization when its statistical experience in a given line of insurance is not sufficient for it

BUSINESS CLUSTER

A geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and globally.

BUSINESS INVENTORIES

Inventory goods and materials, or those goods and materials themselves, held available in stock by a business.

BUSINESS OWNER

An individual who owns and operates a business whether it be small or large. This individual also profits from the net gain of the company.

BUSINESS RECOVERY PLANNING (BRP)

This is another part of the business continuity planning executed if a disaster should occur. The whole goal of the planning is to make sure the business will recover at an equal

BUSINESS TAX

Many countries impose corporate tax or company tax on the income or capital of some types of legal entities. A similar tax may be imposed at state or lower levels. The taxes

BUSINESS-USE PROPERTY

Property used for the production of income, such as an office, or using your car for non-commuting business purposes.

Topic Archives:

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.