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

Category: Finance

UNFAIR TRADE PRACTICE

In US law an act, practice or policy of a foreign government violate trade agreements, is unjust or unreasonable and is inconsistent with section 301 of WTO.

UNIT OF ISSUE

Measurement physically of quantity that an item is stored and issued as.

UNITRUST

Trust where certain percentage of the yearly assessed market value is paid to the beneficiary of the trust.

UNLISTED NUMBER

Phone number that is not found in a directory or by calling enquiries.

UNREASONABLE RISK

Adverse effect to people and the environment by a biocide and considering the economic, medical, environmental costs.

UNSTUFFING OF CONTAINER

Process where transport containers are unsealed and all goods removed. Also known as devanning, stripping.

UPSIDE POTENTIAL

Difference in current trading price of a security and the level it is likely to rise up to.

USA PATRIOT ACT

Act passed after September 11 2001 giving law enforcement agencies tool to prevent acts of terror.

UTILITIES EXPENSE

Cost of using utilities like water, electricity. Found on financial statements.

VALUE ADDED

1. Accounting. Alternate term for Gross income. 2. Economics. Difference of sales revenue and costs to produce. See economic value. 3. Marketing. Creating an advantage over the competition by adding more products

VALUE BILLING

Charges for a service not based on time taken but on the price of the service.

VANDALISM

Mindless and malicious harm and injury to another’s property.

VEBLEN EFFECT

Abnormal behavior of a market where higher priced goods are bought even though lower priced substitutes are available.

VERSO

Side of book on the left-hand side with an even page number. Opposite is recto.

VEST

1. Confer right of legal ownership. 2. Confer legal authority, rights, power. 3. Designation of endowment of power, authority, rights.

VICKREY AUCTION

Sealed auction bid where successful bidder pays second top price. Also known as second bid auction, second price auction.

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