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

Category: Finance Dictionary

BUSINESS INVENTORIES

Inventory goods and materials, or those goods and materials themselves, held available in stock by a business.

BUSINESS OWNER

An individual who owns and operates a business whether it be small or large. This individual also profits from the net gain of the company.

BUSINESS RECOVERY PLANNING (BRP)

This is another part of the business continuity planning executed if a disaster should occur. The whole goal of the planning is to make sure the business will recover at an equal

BUSINESS TAX

Many countries impose corporate tax or company tax on the income or capital of some types of legal entities. A similar tax may be imposed at state or lower levels. The taxes

BUSINESS-USE PROPERTY

Property used for the production of income, such as an office, or using your car for non-commuting business purposes.

AVOIDANCE OF CONTRACT

Cancelling a contract when it cannot be continued or is no longer profitable. The parties are released from their agreements.

ASSESSABLE SECURITY

A security that is payable on a further call. The UK calls this a partly paid security.

ADJUSTED BREAKEVEN

A measure of the number of years it takes for an investor to recover the initial CONVERSION PREMIUM paid when purchasing a CONVERTIBLE BOND, after accounting for the fact that the investor

ADVANCE DIRECTIVE

A document about final wishes of an individual. It is drawn up in case the person becomes unable to make their own decisions. AKA living will.

ADVERSE TRUSTEE

A party related to a person owning a trust. Or an employee who has interest in the company trust.

AFLOAT

Goods on a boat betwen the start and end of the journey.

AGENCY CAPTIVE

A CAPTIVE, owned by one or more INSURANCE AGENTS, which is used to write insurance cover for a large number of third party clients. See also GROUP CAPTIVE, PROTECTED CELL COMPANY,PURE CAPTIVE,

AGENT BANK

A BANK forming part of a SYNDICATE arranging a LOAN for a borrower that is responsible for protecting the interests of all other syndicate banks. The lead bank arranging the loan is

AIR TOXICS

An air pollutant that can cause damages that are permanent.

ALIEN INSURER

In the United States, an INSURER formed on the basis of the legal requirements of a country other than the United States. In order to qualify to write INSURANCE in the United

ALL RISKS INSURANCE

A policy that covers all risk except bad packaging, delay, inherent vice, or loss of market just to name a few. Risks listed in the policy are the ones that are not

ALPHA TEST

Testing done in company of a model. It establishes flaws to come or deficiencies. Refer to beta test.

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