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

Category: F

FREE MARKET

Only the forces of demand and supply constrain deals of buyers and sellers that they wish to make. Example is a stock market. Also refer to market economy and open market.

FREE TRADE AREA

A free-trade agreement of two or more countries forming a geographical area edged by the national boundaries of the members.

FREENET

Operated by volunteers and funded by sponsoring organizations, this is typically a community-based electronic bulleting board system (BBS) type of network providing basic email and internet access.

FREIGHT FORWARDER

A company that handles the tasks of preparing goods for transport for a shipper. Transport tracking, document preparation, warehousing. Storage, cargo space booking, negotiating freight charges, consolidating freight, getting insurance, and filing

FRIABLE

A term applied to material that crumbles into very small pieces very easily, with very little force, as from a finger or hand. Materials that decompose this way hold a higher danger

FRONT END LOADING

Putting most of the fees or cost for a service or job upfront at the start, regardless of being earned. Sometimes considered fraudulent.

FRUSTRATION

An emotional feeling. Occurs when stifled from succeeding due to forces beyond one’s control. These forces are sometimes malicious or deliberate acts to inhibit progress or success. Force majeure causes frustration in

FULL REPORTING CLAUSE

Commercial insurance requirement for periodic (annual?) reporting of asset value to the insurer by the policyholder. Coverage sufficiency for the asset is assessed for potential loss. A failure-to-report-accurate-value penalty is included.

FUNDAMENTAL

Foundational; bottom-line component; vital point; without this item, nothing constructive can be built; a core or key aspect of something bigger.

FUTURE

An EXCHANGETRADED DERIVATIVE contract that permits the purchaser to buy, and the seller to sell, an ASSET at a predetermined future price and delivery date. Standardized futures contracts are available on assets/securities

FUTUROLOGY

Using several methodologies, like computer modeling and Delphi method, in an intensive study of historical and current trends as a systematic attempt to predict future developments. Contingency, long range, and strategic planning

FAILURE MODE

How equipment failure happens due to premature operation, scheduled failure, shutting down, during operatoin, or degraded functionality.

FAMILY INCOME POLICY

Life insurance that takes ordinary and decreasing life insurance. It helps children get payments if the person passes before a period of time. If they are still alive they get the face

FATIGUE

1.the diminshed capacity to perform due to tiredness. It happens due to exertion and can cause illness. 2. when a material can fracture under stress. Refer to fatigue strength.

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.