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

Category: C

COMMERCIAL RISK

1. Risk a seller assumes when extending credit. 2. risk that is not related to politics.

COMMON AREAS

Any areas that are shared by others in the same building.

COMMON ITEM

An item for sale with a standard application, design, and system requirements. It can be bought from many places or be customized.

COMPACT DISC-INTERACTIVE (CD-I)

Any media that can handle animation, video, and sound. It is played on the computers CDI player or attached to the TV. The manual for this is called the green book.

COMPANY SECRETARY

An officer that the directors appoint to handle legal issues and legislation. They must set up meetings, record minutes, keep records, make payments, and draft contracts. This is the officer that does

COMPENSABLE FACTOR

An element that is a part of many jobs and is used to study employee behaviors.

COMPETENCY-BASED APPROACH

Training employees based on their current skills and where they need to be to get the job done. It leads to good hiring practices.

COMPETITIVE TENDER

A general process where a company acquires goods or services by extending to suppliers an invitation to tender a proposal. In general, the tender with the lowest price wins the order, although

COMPLETED CONTRACT METHOD

Completing a task in more than one accounting period. It is considered in the total cost of finishing the job. The profits are uncertain. The profits are only present when the contract

COMPLEX SYSTEM

A system of many parts that are related. It is not a simple system and requires more than one level of description. The properties are the result of the combination.

COMPS

The comparison of a companies income and output between the present year and the previous year in an attempt to forsee forthcoming profits or losses.

CONCEPTUAL MODEL

A prototype of an organization showing how well the system meshes with other organizations and how it functions within its own structure.

CONDITION PRECEDENT

A rule in a contract that parties must do what they agree to or a demand can be placed to perform the action required. Refer to conditions concurrent and condition subsequent.

CONDOR SPREAD

A COMPOUND OPTION STRATEGY designed to take advantage of VOLATILITY. Condors are created with the same ratio of PUT OPTIONS or CALL OPTIONS (i.e., one low STRIKE PRICE, one middle low strike,

CONFLICT OF INTEREST

1. a situation that can undermine a person due to self interest and public interest. 2. a situation when parties discharge responsibility to a third party.

CONGRUITY THEORY

The idea that a person is naturally not fond of pressure and want to be at peace with decisions made.

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