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

Category: Finance

PATCH

A small program which is designed to fix a ‘bug’, or a number of ‘bugs’ in another software program. Patches are commonly included in the shape of ‘updates’.

PAY DOWN

Payment of a portion of the full amount of any item.

PAYDAY

The day on which an employee receives his salary. Might be quarterly, weekly or monthly.

PAYOUT PERIOD

The period between which benefits are received, under a set agreement.

PEER PERFORM

In case a security is expected for the provision of returns, which are consistent to that of other companies operating within the same sector, analysts usually give the peer perform investment rating.

PER ACCIDENS

Something that occurs as a contingency, or due to a small chance. The antonym of per se.

PERCENTAGE PARTICIPATION

An agreement which states that the insured party, as well as the insurer will be liable to pay a certain portion of the losses, which must be agreed beforehand in the contract.

PERFLUOROCARBON (PFC)

PFC, as it is commonly known, is a byproduct that appears when aluminum is smelted during the manufacturing process of a semiconductor. A PFC has a couple of carbon atoms, as well

PERIODIC VALUATION

Ability to estimate costs during a period of accounting is known as periodic valuation.

PERMANENT INTEREST BEARING SHARE (PIBS)

Tradable on the London Stock Exchange, a PIBS is a non redeemable security given on fixed interest, and issued by some of the top building societies of the UK. A fixed income

PERSONAL PROPERTY

The belongings of an individual, excluding any real estate property or other buildings. Generally includes tangible and intangible assets of an individual.

PEST ANALYSIS

An analysis taken in which the politicallegal, economic, sociocultural and technological factors of a company are taken into account so as to come up with the plans of the organization for the

PHASE

A particular stage of any event, or phenomena. Examples include ‘a phase of my life?’ In Chemistry, it means matter’s physical state. In Physics, the term is used to determine the oscillatory

PHYTOTOXIC

Any substance which can prove to be toxic for plantation is ‘phytotoxic’.

PIGGYBACK RIGHT

A right aforementioned in a contract, allowing a party to copy the actions of another party too.

PITCHBOOK

A guidebook set up by a fund manager, which can be used to provide instructions regarding the investments that should be made by potential investors, and the kind of investments that the

PLANT LEDGER

An accounts ledger that must be maintained by the plant, detailing all of the information on a certain asset.

PLIMSOLL MARK

A small mark painted on the side of a ship, usually depicting the maximum point to which they can be sunk in water when full. Usually dependent upon place season as well

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