The Law Dictionary

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

Category: Finance

UNLEVERAGED

When the company uses funds from the company to buy investments so as not to borrow from other sources.

UNPAID BALANCE

Remaining balance of a loan, cash advance or credit that has not been paid.

UNSOUGHT GOOD

goods and services that are bought by necessity and not want.

UPPER EXPLOSIVE LIMIT (UEL)

Highest concentration of a vapor or gas in air that is able to be ignited by an ignition source. Higher concentrations are ‘too rich’ to burn. Also known as upper flammable limit.

UPWARD COMPATIBILITY

Feature of new software and hardware letting it work with more powerful versions of software and hardware. See downward compatibility.

USER COST

Economics. Machine or capital assets reduced value by using it.

VALUATION CLAUSE

Provision of an durance policy where the insured and insurer have agreed on the value of goods.

VALUE AVERAGING

Strategy of investment where securities are purchased regularly in increasing amounts when the market drops and decreases if it rises.

VALUE LINE COMPOSITE INDEX

Index of 1700 stocks traded on NASDAQ, AMEX and NYSE stock markets. Stocks are raked on projected price performance and volatility of behavior.

VALUED POLICY LAW

Law stating the insurer has to pay face value of policies on total loss of a building.

VARIABLE COST

Variable periodic cost instep with sales revenue and output.

VARIABLE RATE DEMAND OBLIGATION (VRDO)

Debt security with floating interest rate adjusted regularly and redeemed when a rate changes. Also known as low floater, variable rate demand note, variable rate demand bond.

VELOX

Graphic image on light sensitive paper that is able to be copied photographically, manipulated and then transferred to a plate for printing. Also called Photomechanical Transfer, PMT, and replacing it is Lion

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