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

Category: E

EXCESS LIMIT

Setting a value as a ceiling that is higher than the normal ceiling set in this type of agreement. Can also be a second agreement with a higher ceiling than the primary

EXCLUSIVE AGREEMENT

Makes a person the sole agent providing specific goods and/or services to a particular area or market.

EXCURSIONIST

One who enjoys an excursion. In the Travel industry, it names a person staying in a country less than 24 hours.

EXECUTIVE INFORMATION SYSTEM (EIS)

Infrastructure source of up-to-the-minute operational data, collected and screened from many databases. Financial information, work-in-process, inventory numbers, sales numbers, market trends, industry statistics, and market price of the firm’s shares are the

EXIT INTERVIEW

A manager’s opportunity to obtain frank, perhaps biased, commentary of the good, bad, and ugly reasons on why a terminating employee is leaving this employment. Planned as a formal meeting.

EXPANSIVITY

As standard temperature increases, the related, fractional, measurable increase of a solid in its length (linear expansivity), its area (superficial expansivity), or its volume (volume expansivity).

EXPECTED VALUE

(1) The MEAN of a distribution of values that a random variable can take. (2) The value that is obtained given certain possible outcomes and probabilities of occurrence. In financial RISK MANAGEMENT

EXPENSE RECOGNITION

When an asset becomes an expense, this change must be recognized on the balance sheet. Assets with no unexpired costs become expired costs, or an expense. This places assets on the balance

EXPERT EVIDENCE

Testimony related to a professional or scientific subject. It is based on training and experience in a subject area. The expert must give their opinion to aid the court in a decision

EXPLOSION INSURANCE

Insurance for property loss due to explosion. It doesn’t cover boilers or pressurized instruments.

EXTENDED WARRANTY

Extending coverage on a standard warranty. The time a producer is liable pays is extended. This is offered at the end of a warranty.

EXTERNAL ENVIRONMENT

Parties and factors that surround an organization but influence it and the risks. AKA operating environment.

EFFICIENCY PRINCIPLE

An economic theory that states that the maximum social benefit that is received from any type of action is received when the marginal social costs of resource allocation is equal to the

ELASTIC LIMIT

Point beyond which deformity will permanently occur. Condition of maximum pressure or stress put on a piece of material.

ELECTRIC ARC FURNACE

A type of furnace that uses graphite electrodes to melt scrap iron and steel that is often mixed with DRI pellets. Furnace can be AC or DC powered. See also induction furnace.

ELECTRONIC COMMERCE CODE MANAGEMENT ASSOCIATION (ECCMA)

Organization established to provide standardized electronic commerce codes for membership-based businesses over the internet. United Nations sponsored an open, transparent, and efficient process for the development, maintenance, and distribution of these codes.

ELECTRONIC MAILING LIST

A list of email addresses. Retained electronically by the email user to send email to a group of users or to easily find the addresses of a selected user. Some companies buy

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