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

Category: E

EXCESS RESERVES

Banks having more cash reserve than the law requires. Low economic activity, weak loan demand, high interest rates, or tight monetary policies are typical contributing causes for this condition.

EXCISE DUTY

1. A tax on manufactured, exchanged, or locally sold produce goods. 2. A tax on a company’s revenue, instead of on the company’s income. 3. A fixed tax on an activity or

EXCLUSIVE PROVIDER ORGANIZATION

A primary care doctor having a preferred providers group or organization for referring patients instead choosing off a list of preferred providers.

EXECUTION CAPACITY

The time-bound, measured amount of activity a person or machine or process can do. Measured against a best practice / best-in-class standard or benchmark.

EXECUTORY CONTRACT

Contractual obligation fulfillment actively being done. Some contractual expectations are yet to be done by one or more parties. An ongoing lease agreement is an example.

EXONERATE

To lift, remove the stain of being called out for blame, liability, or punishment. It is more that just freeing an accused person of the responsibility for a criminal or otherwise illegal

EXPECTED CLAIMS

Statistical prediction on the number of claims that will occur in the contract year. T

EXPENDITURE VARIANCE

Simply, it is the difference between expected or budgeted expenses and actual, documented expenses. A cost overrun is an example of an expenditure variance.

EXPERIENCE

1. Time spent learning a skill or field of knowledge. Superior understanding or mastery gained by actual practice acquired over months or years. 2. Known also as tenure (Definition 3).

EXPLICIT COST

An expense that is both contractual and definite. It can be rent or wages for example. They are recognized for recording.

EXPORT LICENSE

A document the government agency needs for export of technologies, prohibited material, dangerous material, stragetic material, or goods that are in short supply.

EXTENDED ENTERPRISE

A bigger organization that represents all its entities that are involved with it to make a product for the user.

EXTERNAL AGENTS

A party that interacts with an organization and influence performance but do not control things directly.

EXTERNAL STATEMENT

A financial statement that tells outside parties the firm’s position and their results. They give detailed information to help with decision making and management.

EDUCATIONAL FUND

As a part of a life insurance policy, upon the family’s breadwinner death, money for a child’s education is supplied by this fund.

EFFLUENT

Liquid waste discharged into a sewer system or water or anywhere. Emissions is waste discharged into air. Typical culprits are a factory, farm, commercial establishment, but, can even be a household

ELASTOMER

Synthetic rubber-like material. Bends, stretches, twists, or deforms easily, but easily returns to original dimensions and shape at room temperature.

ELECTROMAGNETIC RADIATION (EMR)

A form of radiant energy. Generated by accelerating electrons or photons. Manifesting as waves traveling or as rays emitting. Examples of rays are gamma, infrared, radio, ultraviolet, visible light, and X-rays. Long-term

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