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

Category: B

BUREAU OF LABOR STATISTICS

A unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics.

BUSINESS ACTIVITY CODE

A six digit code used in business to classify the principal activity a company performs. The business activity code is used by the IRS to categorize companies for tax purposes.

BUSINESS COMBINATION STATUTE

These laws impose a moratorium on certain kinds of transactions (e.g., asset sales, mergers) between a large shareholder and the firm for a period usually ranging between three and five years after

BUSINESS FAILURE

A company ceasing its operations following its inability to make a profit or to bring in enough revenue to cover its expenses. The final step is always that the business runs out

BUSINESS LIABILITY

The term used to describe the liability coverages provided by the Businessowners Liability Coverage Form. It includes liability for bodily injury, property damage, personal injury, advertising injury, and fire damage.

BUSINESS PARTNER

Business partner is a term used to denote a commercial entity with which another commercial entity has some form of alliance. This relationship may be a highly contractual, exclusive bond in which

BUSINESS REPLY MAIL (BRM)

Freepost is a postal service provided by various postal administrations, whereby a person sends mail without affixing postage, and the recipient pays the postage when collecting the mail. Freepost differs from self-addressed

BUSINESS TRUST

A legal trust set up for the purposes of business, but not necessarily one that is operated in The Commonwealth of Massachusetts. They may also be referred to as an unincorporated business

BUYTHE BOOK

An ORDER given by a client to a BROKER to purchase all of a SPECIALIST

BABY BOOMERS

A person born between 1945 and the late 1960s. This was big population growth period. These people had different spending needs.

BACKCASTING

When a prediction is made based on an outcome and works backwards to the present.

BACK-LOADED

A contract where more charges or profits are earned at the end of the contract.

BAIL

Releasing a prisoner due to a deposit of a security. The person must still appear in court. A civil case allows release but criminal issues are based on the courts discretion. Bail

BANK INSURANCE FUND (BIF)

A fund whose deposit money is insured by a commercial bank. It is admisitered by the Federal Depository Insurance Corporation or the FDIC.

BARINGS BANK

A bank started in 1762. It was most stable in the world for a long time. In 1995 it collapsed because Nick Leeson did unauthorised trading. It was bought by ING.

BASIC FINANCIAL STATEMENTS

A report made the way the GAAP dictates it should be. It is used to evaluate operations. This can be a balance sheet, income statement, or cashflow statement.

BEAR STEARNS

A bank that closed in New York. It was a global investor before 2008. JP morgan chase bought them out.

BELL-SHAPED-CURVE PORTFOLIO

A portfolio that mostly invests in bonds with medium maturity rates. Smaller amounts are invested in small and long maturity bonds. When graphed it lookes like a bell. Refer to barbell shaped

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