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

Category: F

FORTY-FOOT EQUIVALENT UNIT (FEU)

Equals about 25 metric tons or 72 cubic meters. Container industry term denoting one forty-foot container measuring 40 x 8 x 8 feet, or two twenty-foot containers measuring 20 x 8 x

FORWARD TRANSACTION

With delivery set on a fixed future date, goods or services are bought or sold at a certain price.

FOUR STEPS OF TRAINING

(1) preparation, (2) presentation, (3) performance trial, and (4) follow through are the four essential steps in an on-the-job training programs.

FRAGMENTATION

1. In Computing, this is the separation of data in a single file over a wide area of physical disk storage. The data resides on non-contiguous areas of the disk. It is

FREE DOMICILE

Currently, more often referred to as DDP or Delivered Duty Paid. Describes shipper accountability for all transportation fees other charges until the goods reach the buyer’s premises.

FREEDOM OF THE SEAS

The understanding that nonterritorial waters are open to all nations and people for fishing, laying of submarine cable or pipeline, navigation, overflight, scientific research, and so on. In times of war and

FREEZING POINT

Transitioning temperature point where liquid turns solid. Each liquid compound and element has a unique point. For example, at normal atmospheric pressure that point for pure water is 0

FREQUENT FLIER

Repeat air-traveler. Typically a member of an airline mileage program. Also refer to frequent lodger.

FRONT COMPANY

This is a term used for an entity, be it an individual or group or organization used to inhibit the identification of an owner or member of another company or organization. In

FRONT-END FEE

Borrower payment to the mortgage broker. Contrast to lender-paid backend fees.

FULFILLMENT

1. In Psychology, it is satisfaction of reaching a goal, the euphoria of success and achievement. 2. In Retail, it is the completion of picking inventoried product to satisfy a customer’s order,

FULL LINE FORCING

Sometime illegal stance of Producer or supplier insistence that a dealer carry a full product line range. Not considered illegal if business need reason is legitimate .

FULL THEFT COVER

Ordinary theft or burglary insurance policy. Unavailable to retail stores or hotels. Includes casual theft and other dishonest activities.

FUMES

Visible or invisible (1) inorganic or organic liquid evaporations, (2) incomplete combustion exhaust, like from a gasoline engine, (3) chemical reaction exhaust, (4) heated metals or metallic compounds exhaust of submicroscopic particulate

FUNGIBLE

Recognized as being uniform, exchangeable, and a worthwhile substitute. Applies in the economy as cash for cash, corn for corn, and gold for gold. Any commodity to be traded on a commodity

FUTURES CONTRACT

Agreement to buy or sell a commodity, financial instrument, or security, on a stated future date, at a specified price; made binding when conducted on-the-fly, on-the-trading-floor. Standardized agreements for quantity, quality, delivery

Topic Archives:

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.