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

Category: Finance

ZOMBIE DEBT

Term describing old debts bought to life by actions of collecting it.

UNFAIR LABOR PRACTICE

Action legally prohibited by an employer or union such as a refusal to discuss matters in good faith.

UNIFORM DELIVERED PRICING (UDP)

Price that includes costs of transport where a seller retains title until goods are given to the customer. Single and multi zone pricing.

UNINSURED MOTORIST COVERAGE

Added cover in a automobile policy compensating for damage and loss with a hit and run driver or one with no insurance policy.

UNITIZATION

1. Combination of cartons, boxes, pails, etc., in one load ready for transport with ease of handling and identification. See containerization. 2. Converting an investment company to a unit trust.

UNLIMITED WANTS

Part of human nature where we want many things but are unable to afford them all.

UPSELLING

Selling strategy where seller will provide opportunities to buy other products and services just to make a bigger sale.

VALUATION CLAUSE

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

VALUE OF ENTRY

Total value of declared items on a duty entry form accepted by customs.

VALUES, ATTITUDES, AND LIFESTYLES SYSTEM (VALS-2)

Proprietary psychographic consumer segmentation system classifying people into 8 groups based on lifestyle. 1. Actualizes, 2, Fulfillers, 3. Achievers, 4. Believers, 5. Strives, 6. Experiencers, 7. Makers, 8. Strugglers.

VERSION

Releases of the same item with changes made along the way.

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