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

Category: Finance Dictionary

LONG TERM CARE (LTC)

Health care professionals administering to people with diseases or disabilities lets this term refer to health or social care.

LOSS DAMAGE WAIVER (LDW)

In accordance with the terms and conditions of the rental agreement, safe driving of a rental car relieves the customer of damages arising from loss of the car or any damage to

LOSS OF BARGAIN RULE

Lawful damages payout is required that financially positions the offended party of a breached contract to where the offended party would have been financially if there had been no breach. A legal

LOW-COST COUNTRY SOURCING (LCCS)

Using foreign companies with lower wages to generate manufacturing resources as a company’s procurement strategy. A company may be able to lower operational expenses by locating companies operating on leaner budgets than

LUNAR DAY

Used in tidal predictions , consist of a period of 24 hours and 50 minutes. Also known as tidal day.

MACHINE HOUR

Measured as one machine working for one hour. Not a labor hour. Used in mechanized production to apply overhead costs to work-in-process inventory. Necessary for cost accounting,

MADISON AVENUE

Well-known, popular New York City – Manhattan district street. Named after the fourth President of the United States, John Madison. Pricey real-estate, high-end shopping, and large advertising agencies are trade-mark characteristics. The

MAINTENANCE CAPABILITY

Drawings, facilities, funding, personnel, spare parts, technical data, test equipment, tools defined as resources available for required maintenance tasks.

MAKE OR BUY DECISION

To make a particular item in-house, or to buy it from a supplier as a more advantageous determination. Qualitative quality control and quantitative relative cost are factors considered in the choice.

MANAGED ACCOUNT

Investment manager administered and supervised investment account, containing one or more investor’s invested the funds. In proportion to their contribution to the account, these investors share in the gains and losses.

MANAGERIAL FLEXIBILITY

The management team’s ability to fit investment decisions to existing market conditions, such a timing and scale, versus to preset assumptions and goals. A mining company with managerial flexibility in its operations

MAN-YEAR

A 12-month period of one person’s productive effort represented as a unit of work. Also known as labor year.

MARGINAL EXTERNAL BUDGET

Total benefit change of some households or businesses due to a unit change in other households’ or businesses’ consumption or output.

MARGINAL RATE

A taxpayer’s taxation rate on the last income dollar. Earlier income tax rates are lower, and the rates increase at specific income increments as income increases.

MARITIME LAW

Law governing sea or seaport bound actions conducted and commerce transacted. Registration, license, and inspection procedures for ships and shipping contracts, insurance and carriage of goods and passengers are included.

MARKET GROWTH

Particular product’s or service’s increased demand, tracked over time. If consumers have no high demand, growth is slow or stagnant. If consumers develop product or service loyalty at a specific price level,

MARKETING CHANNEL

The path from vendor to the consumer of a company’s goods and services, flowing in one direction. Also, this is the path that payments from consumer to the vendor generated by sales

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.