The Law Dictionary

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

Category: B

BROWN BAG MEETING

A meeting that occurs during lunch, but lunch will not be provided by the company (meaning its ok to bring food/drinks into the meeting).

BUDGET AIRLINE

A low-cost carrier or low-cost airline (also known as a no-frills, discount or budget carrier or airline) is an airline that generally has lower fares and fewer comforts. To make up for

BUFFER INVENTORY

The strategically placed inventories which protect the material flow and whose consumption set the schedules in a pull system.

BUILDING EFFICIENCY

Relates to energy efficiency for heating, cooling, and lighting and the use of energy-saving appliances and equipment.

BULK SALES LAW

A state law intended to protect the creditors of a business that is being sold by requiring that the creditors be notified of the sale.

BULLION COINS

A bullion coin is a coin struck from precious metal and kept as a store of value or an investment, rather than used in day-to-day commerce.

BUNKER ADJUSTMENT FACTOR (BAF)

BAF refers to floating part of sea freight charges which represents additions due to oil prices. BAF charges used to be determined by Carrier Conferences to be applicable for a certain period

BURIED POSITION

Placing an ad between other ads in a print publication, so that readers are less likely to see it.

BUSINESS ANALYSIS

The discipline of identifying business needs and determining solutions to business problems.

BUSINESS CONTINUITY

The activity performed by an organization to ensure that critical business functions will be available to customers, suppliers, regulators, and other entities that must have access to those functions.

BUSINESS FRANCHISE TAX

A franchise tax is charged by a state to corporations and other business entities (LLCs in some states).

BUSINESS PHILOSOPHY

The philosophy of business considers the fundamental principles that underlie the formation and operation of a business enterprise; the nature and purpose of a business, for example, is it primarily property or

BUSINESS RESUMPTION

The process in which all operations of a business or firm are restored after a disaster or emergency.

BUSINESS VALUATION

A process and a set of procedures used to estimate the economic value of an owner

BUTTERFLY SPREAD

A three-legged option spread in which each leg has the same expiration date but different strike prices. For example, a butterfly spread in soybean call options might consist of one long call

BUY-BACK DEDUCTIBLE

A DEDUCTIBLE on an INSURANCE contract that is eliminated through payment of an incremental PREMIUM, thus providing the INSURED with FIRST DOLLAR COVERAGE in the event of a loss.

BYPASS

Source direct, also known as tone defeat or bypass is a sound engineering term. It describes a feature on a piece of audio equipment which allows the audio effect such as bass

BABY BOOMER AGE WAVE THEORY

The idea that spending peaks at age 50. This will occur between 2008 and 2012. These are the years that baby boomers will become 50.

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