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

Category: E

EQUIPMENT

Tools, be they devices, machines, or vehicles. Assist a person in achieving an action beyond the normal capabilities of a human. Tangible property that is not land or buildings, but facilitates business

EQUITY FUND

A mutual fund holding at least 65 percent of its total investment equity in liquid assets paying the highest dividend yield. These equities are typically fairly inexpensive stocks. The risk is loss

EQUITY OPTION

An opportunity given an investor to buy, or sell a specific number of shares, by a certain date (date of expiration), for a pre-set price.

ERASABLE, PROGRAMMABLE, READ ONLY MEMORY (EPROM)

Type of motherboard ROM used for long-term reused information, such as system BIOS, hardware configurations, and other defined, pre-set information. This ROM can be reused, but only for the same information when

ESCAPE CLAUSE

Allowance for withdrawing from a contract when specified conditions occur. Can also allow changing these conditions. Provision in a contract.

EUREX

Joint operation of Deutsche Boerse Ag and SWX Swiss Exchange. Major locations are Chicago, Frankfurt, London, Paris, and Zurich. An electronic futures and options exchange.

EUROPEAN ARTICLE NUMBERING (EAN) CODE

Barcode with a 13-digit numbering scheme. Considered to be a world-wide standard, replaced the prior 10-number schemed UPC. Main use is identifying packages, shipping containers, and parts for shipment tracking.

EVALUATION CRITERIA

Measurable, quantifiable benchmark, standard, or yardstick. Used to analyze results and map against the benchmark. Accomplishment, conformance, performance, and suitability are examples of characteristics analyzed.

EVOLUTIONARY ECONOMICS

A company’s development and transformations explored by the impact of its processes and resources in a field of study. Darwinian principles, sociology, psychology and anthropology are blended in this field of study.

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).

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