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

Category: Finance Dictionary

LOSS PAYEE

Entity receiving loss payout benefits, such as a mortgage borrower

LOUDERMILL RIGHTS

1985 US Supreme court decision, ‘Cleveland Board of Education vs. Loudermill’, gave public employee property rights in their jobs. A public employee cannot be terminated without due process involving a pre-termination hearing,

LOWEST RESPONSIBLE BIDDER

Business and financial capabilities, past performance, and reputation of this qualified bidder meets the required standards, with this bidder also having the lowest or best bid price.

M2

An M1 option plus overnight agreements and deposits, savings accounts, and mutual funds.

MACRO HEDGE

An offset designed to use futures contracts to eliminate, reduce, or otherwise mitigate an entire entity’s portfolio-based economic risk. Also refer to micro hedge.

MAIL ORDER

Sales method using some version of mailing to obtain the order. Generates inquiries and orders from advertisements in suitable media, including the Internet. Contrast to phone order. Buyers and sellers have no

MAJOR CURRENCIES

The value of a local currency is measured and most of the world’s foreign transactions are denominated with one of the following major currencies: British Pound (GBP), Euro (EUR), Japanese Yen (JPY),

MANAGEMENT BY RESULTS

Objectives planned determine if results are worthwhile and contributing to an organization’s mission and goals in this process management style.

MANIFEST ERROR

Complete disregard of case facts and the applicable rule or law as an indisputable error of judgment.

MANUFACTURER’S IDENTIFICATION NUMBER (MID)

Each manufacturer that imports goods into the United States receives this unique identifying reference number. This number is used by U.S. Customs in its electronic monitoring systems. This number is not like

MARGINAL ANALYSIS

The process of identifying the benefits and costs of different alternatives. This is done by examining incremental effects on total revenue and total cost. These effects are caused by very small, single

MARGINAL PRODUCT

With all other factors remaining constant, this is output taken by adding one more production factor unit, like a labor hour or a machine hour. Marginal product measures physical units produced. Contrast

MARGINAL SOCIAL COST

An activity’s incremental cost as perceived by society. Adding marginal external cost and marginal private cost results in this value.

MARKET CONCENTRATION

A relatively large market percentage covered by a relatively small group of entities accounts for this extent or degree.

MARKET REACH

An advertising medium or promotional campaign seeks to reach this estimated group of potential customers.

MARKOV PROCESS

Process as a series of events whose past behaviors is no help in predicting any future behavior except the current or present behavior. It involves random chance or probability. Examples of Markov

MASS MARKETING

Using mass distribution and mass media as a strategic attempt to reach an entire market with one basic, appealing marketing strategy. Also known as undifferentiated marketing.

MASTER POLICY

The contract issued to the employer under a group insurance policy issued for employees. An insured who is able to issue certificates of coverage to others can obtain this type of property

MATERIAL FACT

Crucial to the interpretation of a phenomenon or a subject matter, or to the determination of an issue at hand this is a specific type of confirmed or validated event, item of

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.