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

Category: Finance Dictionary

LINKAGES

Tasks, functions, departments, and organizations integrated to achieve shared objective are related to each other, having interactions that promote the flow of information and ideas.

LISTING

1. Posting a accepted security on a stock exchange for trading. 2. Certification of an appliance, equipment, or supplies as complying with specific safety and/or other requirements by an independent standards or

LIVING TRUST

Revocable trust as an estate planning device, built on property transfer or gift to one or more beneficiaries from its living trustor. It is not a way to stave off creditors from

LOCAL AREA NETWORK (LAN)

Two commercially and industry known major LAN standards are Ethernet and Token Ring. data communication system user-owned. user-operated. Either a short-distance cable and/or wireless-based device connection. Interconnects one or more servers with

LOG BOOK

Record of activities, events, and/or occurrences, systematically, daily or hourly.

LONG SQUEEZE

A downward stock price trend accelerated by attempted long position liquidations by investors, hoping to minimize their losses. Also refer to short squeeze.

LONG-RUN AGGREGATE SUPPLY

in a specific period of time, produced and tracked across the national economy, this is the total amount of goods and services .

LOSS CONSTANT

Compared to other risks in the same classification, this amount intends to offset greater-than-average losses most smaller risks have.

LOSS LIMITATION

Retrospective rating formulas component. Calculating the final premium with a designed catastrophic losses limit versus full hit reporting.

LOSS RESERVE

Insurer’s estimated time-bound total unpaid claim liability as held money. Includes unreported claim events, committed unpaid rulings, and payouts committed yet not due.

LOW RISK FOODS

Foods less of a source of food poisoning, containing (1) high acid content of pH 4.5 or lower, or (2) low water content. Low risk foods usually have a ‘best before’ date

LUMP SUM BID

Single value bid. Expected to cover all cost for the project involved. Includes equipment, labor, material, overheads, and services, as well as the contractor’s fee or bonus for completing the items of

MACHINE BUREAUCRACY

Typical in large, established organizations that have formalization and specialization at a high degree. Top level making decisions, lower levels mechanically carrying then out is this type of management structure.

MACROECONOMICS

A subject of study. Macro is the behavior of entire, aggregated economies or economic systems. In contrast, Micro is the behavior of individuals, individual firms, or more local markets. National income forecasting,

MAIN STREET

1. Descriptive term for the average working middle-class American. 2. Typically a city or town’s primary street.

MAJOR VIOLATION

In auto insurance, this is an event that could lead to jail-time and/or severe penalties: driving under the influence of alcohol, driving with a revoked or suspended license, an unlicensed driver driving

MALPRACTICE LIABILITY INSURANCE

Insurance coverage for a doctor, surgeon, psychiatrist, psychologist, nurse, a hospital, other medical/healthcare professional or institution if guilty of dereliction of duty due to negligence or incompetence. Pays for the defense of

MANAGEMENT RISK

Potential risk tied to company managers’ decisions made in the interest of shareholders and the company at large. Poor decisions or self-serving decisions made by management will potentially destroy shareholder wealth.

MAN-MONTH

A 4-week period of one person’s productive effort represented as a unit of work. Also known as labor month.

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