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

Category: Finance Dictionary

BACK PAY

The past wages and benefits an employee can get retroactively. This is illegal in court.

BACKHAUL

1. the way back for a vehicle. A truck can either have a paying load or nonpaying load. 2. any shipment that is sent when on a vehicle on its return trip.

BACKWARDS SCHEDULING

Making a production schedule working back from the due date and time. It shows what is needed when in the project at hand. Refer to forwards scheduling.

BAND AID APPROACH

A fast solution to prevent a symptom from showing. The problem is not solved by this action. Refer to quick fix.

BARE TRUST

When a trustee gives assets to the beneficiary and has no other duty. AKA naked trust and simple trust. Refer to active trust.

BASEBAND

When bandwidth is sent on a single signal. Only one channel is usable at a time. Its cheaper and simpler. Local area networks use this.

BAUM

The denisty scale on hydrometer. It is applied to heavier and lighter than water solutions. It was named after Antione Bauma who invented the scale in 1800.

BELBIN TEAM ROLES

People that are profiled by type when in a team. An action oriented role starts, plans, and finishes what they plan. A people oriented role coordinates, investigates, and works in the team.

BENEFICIAL OWNER

The actual owner of securities and the rightful recipient of the benefits accorded; the beneficial owner is often different from the title holder (generally a financial institution holding the securities on behalf

BERMUDA AGREEMENT

In 1946 three more freedoms were added to the 1944 Chicago convention. The US and the UK allowed an airline to pick up cargo or passengers from their mother country and get

BEST VALUE

When the best benefit comes from a trade off of price and performance.

BIG BANKS

The banks with the most assets in an area. It is listed per country.

BIOSPHERE

The atmospheric layer that has the whole terrestrial eco system in it. It has all living things in it and supports soil, water, and air. AKA ecosphere.

BLACK MONEY

Cash that is not taxed or recorded involved in the black economy or organized crime. It must be laundered to become legitimate.

BLANKING

The act of cutting or punching metal into a shape.

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