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

Category: Finance

QUARANTINE BENEFIT

A benefit that is made for any time that is lost due to a period of quarantine. The benefit will be paid out when a health department or authority demands something is

QUEEN’S COUNSEL

A position in UK courts that can be bestowed on a barrister with at least 10 years experience who is then recommended for the position. The Lord Chancellor will offer the recommendation.

QUINTILE

Just one of the four values or points in a group of five each being one fifth of the total. It will divide a range into five equal parts.

RADICAL PROCESS IMPROVEMENT (RPI)

A method of reducing a process that may usually take months to happen, to make it happen in a much shorter period of time. An acceleration process that is sued in times

RANDOM

Events or data that acts ofm its own accord. It will show no recognised pattern or direction that can be plotted for the anticipation of future actions. A random event or action

PREPAYMENT CLAUSE

A Clause in some loan agreements that allows borrowers to settle the loan amount before the end of the loan term and not incur any prepayment penalties.

PRESSURE GROUP

A nonprofit organization with members constantly striving to affect political or corporate decisions to achieve a specific target. As opposed to interest groups who try to defend a cause, pressure groups promote

PRICING PLATEAU

The price level, that is dependent on the market and the product, either side of which volume of sales experiences a drastic change.

PRINT ENGINE

The primary mechanism in a laser printer that converts the signals of the print controller into the needed printed image. They are differentiated on the basis of pages per minute, resolution, toner.

PRIOR PROBABILITY

The chances that a specific event might occur. It is adjusted on the availability of fresh data.

PRIVATE INTERNATIONAL LAW

The application of specific laws in the case a foreign entity is involved, usually in local legal systems. The validity of the prosecutor’s judgements are also monitored under the private international law.

PROACTIVE RESPONSE

A corporate action that takes the necessary steps before the actual occurrence of a problem. One of the four steps undertaken by companies in response to the social and environmental problems posed

PROBITY

A strict following of the code of ethics that is based on honesty, especially in matter related to money and beyond the legal requirements.

PRODUCER PRICE INDEX (PPI)

The relative measure of the average change in the price of a basket of goods that are sold by the producers in the wholesale market. It consists of three different indices and

PROFESSIONAL

1. A person, who is a member of a professional body due to the education qualification and follows the prescribed moeal and prefessional code of conduct. 2. A person who has mastered

PROGRESSIVE TAX

Income tax, which is proportion to the income of the individual and the burden of tax falls on high income individuals.

PROJECTS IN CONTROL ENVIRONMENT (PRINCE)

A UK government initiative, which focuses on remitting the project purpose, not just the planning and observation part of the project, normally used for management of large projects.

PROOF READING

The subsequent checking and rechecking of a written document before it is sent to the printers. It includes checking of spelling, grammar, layouts, photos, headings and indexes in books, magazines, leaflets, pamphlets.

PROPRIETARY FORMAT

This is the format that a software program will accept or output data that is enetered into the program. This is what stops various computer platforms from being used by other programs.

PROTECTED CELL COMPANY (PCC)

Also known as a Segregated Portfolio Company or SPC. A company will isolate its business dealings into seperate cells to insure they are kept safe from other issues that may adversely effect

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