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

Category: Finance

UNIT CONTROL SYSTEM

System of inventory control where items are tracked with bin tickets and a physical inspection.

UNITED NATIONS

International organization made up of independent countries that together encourage peace and diplomacy between other countries. Maintains treaty obligations and countries in the UN follow international laws.

UNLEVERAGED

When the company uses funds from the company to buy investments so as not to borrow from other sources.

UPPER EXPLOSIVE LIMIT (UEL)

Highest concentration of a vapor or gas in air that is able to be ignited by an ignition source. Higher concentrations are ‘too rich’ to burn. Also known as upper flammable limit.

UPWARD COMPATIBILITY

Feature of new software and hardware letting it work with more powerful versions of software and hardware. See downward compatibility.

USER ID

User Identification Device. Unique name given to the user of a database etc.

VALIDATION

1. Assessing an action to determine it is complete, correct, implemented and delivering the correct outcome.2. Assessment of the degree that an instrument will measure accurately; technique opt test used to predict

VALUE AT RISK (VAR)

Largest loss to be possibly suffered to a portfolio over a period of time, say 10 days of a given level of probability.

VALUE LINE COMPOSITE INDEX

Index of 1700 stocks traded on NASDAQ, AMEX and NYSE stock markets. Stocks are raked on projected price performance and volatility of behavior.

VALUED POLICY LAW

Law stating the insurer has to pay face value of policies on total loss of a building.

VARIABLE RATE DEMAND OBLIGATION (VRDO)

Debt security with floating interest rate adjusted regularly and redeemed when a rate changes. Also known as low floater, variable rate demand note, variable rate demand bond.

VENTURE CAPITAL FIRM

Private, semi-government or government company providing growth equity or start-up capital for venture showing promise of higher returns than market rates of interest.

VIBRATION

Regular oscillation or periodic motion that will repeat after a definite interval.

VIRTUAL NETWORK

Temporary network of point to point connection over phone lines tailored to suit the needs of a customer. See virtual private network.

VISUAL CONTROL

Arrangement of all indicators of activities of a system or process are in plain view of everyone.

VOID CONTRACT

Contract meeting the following; Illegal from time made; violate fairness, law changes, performed fully. See, 7 Ways to Legally Void a Contract

VOUCHER

Document confirming an action has occurred.

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