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

Category: D

DIGITAL MEDIA

The content digitized over the internet and compute networks.

DIRECTOR

An individual acting as AGENT of the shareholders of a company. A director is responsible, along with other members of the BOARD OF DIRECTORS, for overseeing the activities of the executive management

DOLLAR ROLL

A financial transaction involving the sale, and future repurchase, of MORTGAGEBACKED SECURITIES for cash. Through the exchange the selling party effectively borrows money from the purchasing party on a collateralized basis for

DROPDOWN

A clause in a REINSURANCE contract that requires the REINSURER to provide coverage to an underlying INSURED if the INSURER cannot fulfill its obligations under the policy CEDED. A dropdown is most

DATA RECOVERY

Restoring the data stored in lost files. The space is not overwritten leaving it recoverable by the undelete program. Software is written to do this and is needed for recovery. AKA data

DAY TRADING

he process of actively buying and selling securities throughout the day but holding little or no open position at market close; the practice was initially popularized by the advent of ELEC- TRONIC

DE FACTO CORPORATION

A firm that isn’t de jure corporation. It can be treated as such due to promoters that attempt to incorporate.

DEADWEIGHT DEBT

DEBT of a company that is used to fund operat- ing losses or service other debt rather than support productive invest- ment or ACQUISITIONS, or create incremental ENTERPRISE VALUE. Although the debt

DEBIT DATE

The date when money from an account is taken based on a debit. It is done when funds are there on the same day every month.

DEBT RESTRUCTURING FRAUD

When a company files for bankruptcy hiding its assets. The debt is reduced assuming that they have less to pay than they really do.

DECIPOL

The indoor air quality based on carbon dioxide and the fresh air available. The higher the number the more polluted. The ratio changes based on where the air comes from. It was

DEDUCTIVE VALUE

An imported item or shipment value customs gets with the price paid for independent buyers in the country it came from for similar goods.

DEFER

An intentional delay until a future date.

DELAY CLAUSE

A rule that prevents liability on damages and travel delays.

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