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

Category: F

FRAGMENTED INDUSTRY

Market share of an industry has no single entity or group to influence direction because so many entities are competing for market share, diluting and dispersing dominance.

FRAUD RING

An organization focused to defraud people. Forgery, false claims, stealing identities, counterfeiting checks and currencies are all fraudulent activities.

FREE ENTERPRISE

Unrestrained business activities, governed only by market forces of demand and supply. Unfettered by government interference of controls and regulations. Also known as capitalism.

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

FACILITY MANAGEMENT

The operation, maintenance, and security of a place of business done by an external party.

FAIL SAFE

Equipment that rarely fails because it is used often and is backed up automatically. Nothing is 100% safe so its preferred to say fault tolerant.

FALLING TOP

A TECHNICAL ANALYSIS charting figure depicting a declining securities price or index value over time, with everlower resistance levels, generally considered to be a bearish signal. Also known as DESCENDING TOP. See

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