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

Category: Finance

UNECONOMIC GROWTH

Condition where direct benefit of growth is outweighed by the negative consequences of that growth.

UNFORESEEN CONDITION

An unexpected or unanticipated event or situation affecting final price or time of completion of a project.

UNIFORM PROVISIONS

Provisions recommended by National Association of Insurance Commissioners and mandated under law nearly everywhere.

UNION STEWARD

Employee that is elected by co-workers as the representative of the union.

UNIT PRICE CONTRACT

Construction contract where the client pays a set sum for each unit of work when it is completed.

UNIVERSE

The population, collection, items, bodies grouped together due to commonalities that a representative sample is then taken for measurement of comparisons.

UNOCCUPIED

Property classification where it is not occupied by people but can have goods and furniture in it.

UNREPORTED INCOME

Taxpayer’s failure to report all income he has received and avoid paying as much tax as needs to be paid.

UPGRADE

New version of hardware and software, equipment or a machine better than the last and more expensive.

UPSTREAM INDUSTRIES

Industrial firms processing raw materials into an unfinished product to be completed by someone else.

USEFUL LIFE

Period during which an asset will be able to be used.

VA LOAN

Mortgage loan available to veterans of US Armed Forces.

VALUE ADDED NETWORK

Network of data communications using dedicated secure lines where detection of errors, access to database, capacity for storing large data quantities, protocol conversion and similar features have been included.

VALUE DRIVERS

Increasing the value of a product by improving the perception of the product.

VALUE STOCK

Stock that features high dividend yields and low P/E ratios, considered undervalued as it trades at lower prices.

VAPOR DENSITY

Weight of a unit volume of vapor or gas that is divided by weight of an equal volume of air.

VELOCITY OF MONEY

Rate that money circulate at, turns over and changes hands. High velocity equals high number of transactions. Also known as velocity of circulation.

VERTICAL DISINTEGRATION

Procedure covering all levels of production from raw material to administration to end product by one company. Gives the entity market place strength.

VIDEO-CONFERENCING

Real-time two way transmission of video and audio signals over a LAN or the internet. Also known as video teleconferencing.

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