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

Category: E

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 FACTOR

Ratio calculated as the number of hours used to successfully achieve a goal divided by the documented number of hours expected to be spent on a job or activity.

ELASTIC

Ability of an object to bend, contract, or stretch without permanent deformation. Capability of withstanding pressure or stress. Know also as elasticity and elastic limit.

ELECTRIC

1.Energy generated by a pattern of oscillation of electrons and protons. A type of energy. A source of power used to provide light, heat, or energy for devices such as computers. 2.

ELECTRONIC COMMERCE (E-COMMERCE)

Business conducted without the exchange of paper based documents through the use of electronic and/or online devices. It includes activities such as procurement, order entry, transaction processing, payment, authentication and nonrepudiation, inventory

ELECTRONIC MAIL (EMAIL)

Online transfer of text, voice, and/or video messages. Email emanates from one computer or device and arrives at another computer. Typically, in these days, this occurs over the internet.

ELECTRONIC TICKET (E-TICKET)

Electronic airline, train, or any type of travel-ticket. Using personal id and ticket code, the traveler retrieves the ticket at a machine or travel service agent. Refer also to paperless ticket.

ELIGIBLE COMMERCIAL ENTITY

A person, group, or company with risk management ability in trading commodities and in accepting or delivering the underlying commodities from a futures contract. Usually hired on a contract basis.

ELLIOTT WAVE PRINCIPLE

A technical analysis concept in securities trend prediction. A pattern made of five waves up and three waves down consistently occurs in the stock markets. US accountant Ralph Elliott (18711948) as described

EMERGING INDUSTRIES

Entirely new or restructured industrial sectors. Coming into being as customers seek change, as new technologies overtake older ones, or as new socio-economic conditions manifest themselves. Typically growing at a rate faster

EMPIRICAL RULE

A statistical rule for a normal distribution. Declares that most values will be within 3 standard deviations of the mean. Known also as 689599.7 rule or three sigma rule.

EMPLOYMENT TESTING

Checking the suitability of a job applicant for a position. Employment testing is based on certain test scores indicating the likely level of job performance a candidate would provide. Testing is typically

ENCRYPTION

Making text or code unreadable to secure it for transmission or transport. Both the sender, the encryptor, and the receiver, the decryptor, have the means to translate text or code from source

ENDOGENOUS

In biology, this is a substance produced by a cell, tissue, or organism. In industry, this is something caused or produced by factors within a model, organism, organization, or system. Contrast with

ENERGY EFFICIENCY RATIO (EER)

Relative efficiency of a cooling or heating appliance or equipment. Contrast to overall efficiency. A measured value expressed as the ratio of output-per-hour versus the energy consumed, measured in watts-per-hour. Output is

ENHANCED STRUCTURAL ADJUSTMENT FACILITY (ESAF)

Introduced as an improved version in 1987. International Monetary Fund (IMF) provides poorer countries concessional loans medium-term (5 to 10 years) for arranged payments balance adjustments. Some 65 countries are eligible for

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