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

Category: Finance

UNIFORM COSTING

Using the same approach to production and operation costing by several businesses.

UNILATERAL CONTRACT

1. Contract where one party makes another party an offer to perform an act and assent is promised by performing the act. 2. Contract where one party has an enforceable obligation.

UNIT LOAD

1. One standard shipping container of goods. 2. Alternate term for unitized load.

UNITED STATES

Made up of the 50 federated states, American Samoa, District of Columbia, Johnston Island, Guam, Wake and Midway Islands, Northern Marianas and US Virgin Islands.

UNREALIZED

Transaction that has happened but not been paid for as yet.

UNSTABLE

Tending to, or susceptible to decomposition or a physical or chemical unwanted change.

UPSCALE

Something made to appeal to well to do classes with a price tag and design to match.

URBAN

Populated built up area including a municipality with a population greater than 5000.

U-SHAPE SETUP

Arrangement of seats in a U shape where chairs are on the outside of the shape.

VALUATION CHARGE

Additional charge for insurance placed on a shipper whose cargo has a greater value than he is insured to carry.

VALUES

Important ideal or belief shared be members about what is good and what is not about a culture. See value.

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.

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