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

Category: F

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.

FREE RIGHT OF EXCHANGE

Without incurring any charge or fee, a stockholder or shareholder can transfer shares to someone else.

FREEDOM OF TESTATION

An owner’s right to make testament of leaving any asset to anyone of the owner’s choosing. The only limitation is where the owner has other legal obligations, or where legal soundness of

FREEZING

Preserving food with cold to deactivate existing microorganisms in the food without killing them. A preservation method of flash-freezing.

FREQUENCY SCHEDULE

Maintenance timetable. How often and at what time should what attention be given to what thing.

FRIVOLOUS POSITION

Dishonest abuse of the judicial process in a tax court, using baseless, unsubstantiated, questionable facts, and/or an insincere stance to frustrate an opposing party.

FRONT RUNNING

An illegal practice where a DEALER, MARKETMAKER, or SPECIALIST executes a transaction in advance of a customer trade in order to capture favorable price movements.

FUGITIVE MATERIAL

1. Substance changed during or after a chemical process, becoming partially inert or deactivated. 2. Duplicate copies, fliers, handouts, pamphlets, program listings that have a short useful life as printed material.

FULL INVOICE VALUE

Beneficiary able to draw full invoice amount rather than partial value. Documented as a notation on a letter of credit.

FULL TEXT DATABASE

Excluding drawings, graphics, pictures, an online database fully accessible, providing indexed articles in full text from one or more journals.

FULL-YEAR FORECAST

Year-ahead prediction of various financial and logistic needs for a business. Based on one or more prior years of business performance. It covers a range of business areas, mainly hiring and capital

FUNCTIONAL ORGANIZATION

The classic organizational structure. Hierarchically grouped employees, clear line management authority, and upward reporting to the single top leader. Downward hierarchy, with one top person, distinct lines of reporting, authority, and communication.

FUNGIBILITY

The ability to exchange or substitute one ASSET with another. Fungibility is important in COLLATERAL management for OVERTHECOUNTER DERIVATIVES and REPURCHASE AGREEMENTS, and in delivery decisions for EXCHANGETRADED DERIVATIVES.

FUTURES COMMISSION MERCHANT (FCM)

Futures contracts broker. Required to register with the Commodity Futures Trading Commission (CFTC). Margin-loan provider. Accountable for securing transactions. Can be an individual or an organization. T

FIGHTWITE

Sax. A mulct or fine for making a quarrel to the disturbance of thepeace. Called also by Cowell “forisfactura BL.LAW DICT.(2D ED.)

FINANCIER

A person employed in the economical management and application ofpublic money; one skilled in the management of financial affairs.

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