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

Category: F

FLAT CRUSH TEST

How resistant a flute of corrugated board is when force is applied over a 24 hour period of time.

FLEXIBLE FIRM

When human resources are used flexibly to get the job done. A core group are needed but all others can change things to their needs. A peripheral group is made of employees

FLIGHT NUMBER

A code that identifies a flight in one direction to the destination.

FLOATING LIEN

A general CLAIM against a group of ASSETS rather than a specific asset, i.e., a pool of current and future ACCOUNTS RECEIVABLE or INVENTORIES rather than designated receivables or inventories. A BANK

FLOW

1.change over time. 2. movement of goods in a stream from raw to finished product without any backflow, stoppages or waste materials.

FOOD

A substance that is edible and has nutrition in it to sustain ilfe and make energy. It helps maintian body functions and growth. It can be a fat, protien, mineral, or vitamin.

FORMAL BID

Submittal of a written bid in a sealed envelope that will be opened at a specific date and time, complying with a prescribed format and submission rules.

FORTUNE 100

The 100 largest US public and privately-held companies are listed based on market capitalization or enterprise value. It is an annual ranking by Fortune magazine.

FORWARD FREIGHT AGREEMENT

It is a principal-to-principal contract for betting on the price of a particular freight-route on a particular date. Shippers and ship owners use it as a hedge against a volatile ocean freight

FOUR COLOR PROCESS

Full-color printing technique. All colors of the spectrum exist from proper proportion mixes. Cyan, magenta, yellow, and black together are called CMYK, used for the mixtures. These are also called the four

FRACTIONAL SHARE

Dividend reinvestment plans use an accounting entry of less than one share of stock.

FRANK-EFFECT LEVEL (FEL)

Statistically significant increased severity or frequency of a level of exposure producing unmistakable and irreversible effects, impairment or mortality.

FREE PORT

Imported merchandise may be stored duty-free pending re-export or duty-paid entry into the importing country in this free-trade zone around a port area. Examples are Hong Kong, Isla Margarita, Panama, and Singapore.

FREEDOM OF CONTRACT

Able to enter into whatever type of legally binding agreement one wishes with no legal limitations other than being of legal age to do so.

FREEZE OUT

Leaving specific people or members out of decisions, or unable to make progress on work, or away from worthwhile information. Typically done by controlling or majority members of an organization against the

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