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

Category: C

COEFFICIENT OF CONCORDANCE

Statistical test of (1) each agreement on events among two or more judges, or (2) of the consistency of two or more sets of rankings posted in a contest. Known also as

COHORT

Group sharing one or more similar characteristics or sharing a significant experience during a certain period of time. For example, people born in the same year are birth cohorts, or the generation,

COLLABORATION

1.In General, this is a cooperative agreement of two or more parties to work jointly towards a common goal. The involved parties may or may not have had any previous relationship. 2.

COLLATERALIZED MORTGAGED OBLIGATION (CMO)

Asset backed security (ABS), structured like a collateralized bond obligation (CBO). Instead of being based on its bonds, it is based on a bank’s or a governmental agency’s portfolio of mortgage loans.

CO-MAKER

A group of individuals that guarantees a financial commitment, such as repayment of a loan. Each person is jointly and equally liable for honoring the commitment in full. Known also as coguarantor.

COMMERCIAL CODE

Business laws that apply to the making of financial contracts. It is a Uniform Commercial Code that the U.S. uses commonly. It has 9 articles that deal with a different issue of

COMMON DISASTER

When parties with a similar interest die at the same time with no way to see who died first making it hard to decide estate matters.

COMPANY CREED

A business’s mission statement that states its philosophy.

COMPETITIVE ADVANTAGE

When a company gets the upper hand because is of similar value and a lower price than its competition.

COMPLEMENTARY DEMAND

The product’s demand that is predicted by another similar product. AKA joint demand. Refer to complementary product.

COMPLETION TEST

Evaluation of a project that meets design, is performed as planned, and make profits as expected. It becomes nonrecorse financing at this point.

COMPREHENSIVE INCOME

Income that is adjusted due to fluctuations in the economy. If a firm experiences a forfeiture, their assets are adjusted.

COMPUTED VALUE

The computation by customs of the value of merchandise considering production cost, overhead, and packaging costs.

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