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

Category: E

EQUILIBRIUM

State of stability. Condition where significant factors remain more or less constant over a period of time. Stability also measures a lack of inherent tendency for change. A market in equilibrium has

EQUITY CAPITAL

Time-bound or share-bound assets or monies a person has invested, contrasted to debt capital. This equity is not returned to an investors in the normal course of business. The purchase, as an

EQUITY MORTGAGE

Using the value of property, typically a home with an existing mortgage, to get an additional line of credit contracted as a second mortgage against the property. Known also as a home

EQUIVALENT LABOR

Job completion resource cost, in terms of individual laborers, based on a per-day rate of results on job work done to-date. Holidays, vacations, actual sick leave, and leave with or without pay

ESTIMATED USEFUL LIFE

Projected useful time of revenue or service generation of an asset. Known also as estimated life.

ETHICS

Directives based on one’s ethics and morality. How one lives with others. The foremost concepts and principles of proper human conduct. Socially, it is the collective of universal values, treating each human

EURONEXT

International stock and derivatives exchange. From the merger of the Amsterdam, Brussels, and Paris exchanges and the purchase of London International Financial Futures and Options Exchange (LIFFE) and the Bolsa de Valores

EUTECTIC

Alloy mixture of two or more components. Eutectic alloys are fusible, becoming a very well mixed solid as they solidify from a liquid while cooling. Proportioned mixtures attain a melting point as

EXCELLENT

Not perfect, yet achieving the highest levels of performance or expectations. Better than outstanding or superior.

EXCESS PLAN

A plan that includes social security in its retirement funding.

EXCHANGEABLE SECURITY

Marketable, tradable vehicles, like bonds or shares one can swap, rather than sell and buy, for another common stock.

EXCLUSIVE ECONOMIC ZONE

Area up to 200 miles (321.87 Km) offshore is the exclusive area of resource management by the government and country owning that coast. Free navigation is allowed by all countries beyond 12

EXECUTED CONSIDERATION

The payoff, regardless of how or what, on a completed promise. Refer to executory consideration.

EXECUTIVE SUCCESSION PLAN

Business continuity plan section for smooth, pre-planned, transferal of authority under any condition. It identifies who succeeds the current position holder and is done for every position deemed critical for recovery from

EXOGENOUS

External factors in a model, organism, organization, or system cause this type of condition. Contrast to endogenous.

EXPECTATION OF LIFE

Experience-based mortality-table-calculation of an average person’s number of remaining years of life, as of a certain age.

EXPENDABLE ITEM

Unrepairable, consumed-when-used component or part, like a bolt, nut, or rivet (1) needing no authorized repair procedure; (2) having excessive repair cost exceeding replacement cost; (3) listed as un-returnable inventory at issue.

EXPENSE STOP

Upper limit of what a landlord or tenant will pay. The provision obligates the renter to pay a maximum of certain fees. Beyond that maximum, the landlord owes the rest. Represents an

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