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

Category: Finance

VARIATION

Change of output or result that becomes inevitable over time as systems will always vary.

VENTURE PLAN

Plan written by an entrepreneur showing how they manage and direct a new business to get to certain goals.

VERTICAL SPREAD

Option strategy where a put or call option purchase will match one sold of the same class and date of expiry. Also known as perpendicular or price spread.

VITAL FEW, USEFUL MANY

20% of causes result in 80% of defects/effect’ said JM Juan when applying the Pareto principle to quality management.

VOLATILE ORGANIC COMPOUND (VOC)

1. Any hydrocarbon with a vapor pressure equal or greater than0.1mm of Mercury except for ethane and methane. 2. Substance able to evaporate at its temperature of use and causes oxygen to

VOUCHER SYSTEM

Internal system of financial control for payments and cash relying on vouchers to establish transactions, amounts paid, ledger name where it will be recorded.

WARRANTY POLICY

Policy providing assurance that the company’s warranty will stay the same.

WEIGHT THRESHOLD

Cargo weight where a standard rate of freight begins to decline. Also known as weight break.

WHARF

Area providing protection for a berthing space for sea going vessels. See jetty and quay.

WITH PARTIAL RECOURSE

Legal term. Seller has the responsibility to reimburse the buyer an agreed upon part of the overall loss from the non-performing asset.

WORK LETTER

Statement from landlord to tenant defang items included in the property when rented.

YELLOW FEVER

Spread of a viral infection by mosquitoes infected in Tropical Africa, South America and the Caribbean causing degeneration of liver and kidney tissues.

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