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

Category: Finance

SOCIOECONOMIC

The study of economic and social factors influencing a society’s behaviour.

SOFT WATER

Water that does not containe high levels of dissolved solids such as minerals that make it hard to lather. Soft water lathers easily.

SOLAR ENERGY

Energy that is transmitted by the sun in electromagnetic waves. It is the basis fir all life on Earth. It can be harnessed by solar cells, stored and then used.

SOROPTOMY

The opposite of monopoly where a customer is served by a large number of suppliers without the prospect of getting any more.

SOUTH

A collective term applied to all dveloping countries that are located South of a dveloped country that is known as North.

SPECIAL PURPOSE CORPORATION (SPC)

A legal entitiy that is created in order to insulate an issuer of an asset based security from the originator of said asset. A special purpose vehicle.

PREPAID FREIGHT

Charges for Air or Ocean Freight that is paid for by the exporter at the port of origin, for which the importer has already made the payment. The failure for a shipment

PREQUALIFICATION

Before the commencement of the bidding process, this stage is undertaken to ensure that the bidder has sufficient resources to take part in the bid.

PRIME LENDING RATE

The interest rate that a bank’s top customers are charged. This rate is a standard that is used to compute the interest rate for the financial institution’s other borrowers.

PRINTER’S REAM

As opposed to the 500 sheets contained in a normal ream, the printer ream has 516 sheets, taking into account the waste incurred during printing and paper handling.

PRIVATE CARRIER

A firm that owns its own transportation vehicles that is primarily used to transport its own products.

PRIVATE PROPERTY

The ownership of tangible and intangible goods by an individual who has exclusive rights over it. The transfer of a private property can take place only by the owner’s consent or through

PROBABLE CAUSE

Facts and evidences that lead many to believe that the accused actually committed the crime. A probable cause is not a fail proof evidence as it only provides enough grounds to deem

PRODUCT RECALL INSURANCE

Insurance covering the cost engaged in recalling defective or possibly defectife products that an insured person makes.

PROGRAM

1. A set of actions clearly defining the key allocation of resources, the main objective, the main workers involved and their respective work load. 2. Computing: Set of specific technical instructions aimed

PROJECT MANAGER

Someone who sketches out the functioning, along with organisation of relevant resources required to accomplish a project.

PROMOTIONAL FARE

This is a discount that is used in times of slow business that will hopefully increase business over this period. It can be a discount on the full price or include other

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