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

Category: Finance Dictionary

INDEX PRINCIPAL SWAP

An over the counter swap with floating interest. The principal is notational. This type of exhange is also called index amoritizing rate, accreting, amoritizing, reverse index principle, or a variable principle swap

INSIDER SYSTEM

A corporation controlled by a family. Refer to outsider system.

JOURNAL ENTRY

journal voucher financial data recorded so that credits equal debits. An audit trail of business transactions in a journal. an organization’s financial position and the effects of the transactions can be analyzed

JUNIOR PARTNER

Partner with subordinate, lesser rights, involvement, authority, accountability, risks, and rewards than any senior, superior/primary partners.

JUSTIFIED TEXT

Spacing option of a paragraph or text block to force the first and last word in a line against the margins. Not considered suitable for personal communication, like letters. Used in books

KERMIT

Software named after the Muppet frog character in the children’s educational program, Sesame Street. Controls data exchanges between PCs and mainframe computers. It is an asynchronous file-transfer protocol, largely replaced by internet

KEY TELEPHONE SYSTEM (KTS)

Alternative to a private branch exchange (PBX) phone system, smaller, cheaper, but less flexible. Allows a caller to directly select outgoing lines, incoming calls, or use intercom and conference facilities via several

LABOR DAY

First Monday in September; an observed US Federal holiday. Authorized in 1882, it gives a guaranteed day off to working individuals. Parades, cookouts, and shopping are a typical event on this holiday.

LAND IMPROVEMENT

Adding driveways, fencing, parking spaces, pavements, walls, and the like as limited-life enhancements to a parcel of developed land. Also refer to land development.

LATENCY

1. ending at manifestation of effects and beginning at first exposure to a hazardous substance. 2. ending at a computer/device-command’s execution and begun when the command was given. 3. Measured elapsed time

LAW OF DIMINISHING RETURNS

Economic concept: Increase one production factor, such as the number of workers, for example, leaving other factors, such as machines and workspace, for example, as is, output will lessen as a ratio

LAYOFF

Employment suspension or termination with or without notice due to no fault of the employee. Lack of work, cash, or material can be the reason. Redundancy is a term for a permanent

LEADER LOCATION

A site that attracts customers to the insured’s business. One of the four kinds of dependent properties covered under business income insurance.

LEARNING OBJECTIVE

Lessons expectations statement for a student. Allegedly provides the student a detailed description of what ability is gained when the instruction ends. To assist students on how to make practical use of

LEGAL CUSTODY

Documentary material or records under lawful control, ownership, with access to possess, or responsibility for.

LEGEND

Conspicuously displayed table containing symbols with concise explanation that are used in a chart, diagram, drawing, map, table, and the like.

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