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

Category: Finance

POLITICAL FORCES

Political partices, pressure groups or influential political individuals are known as political forces.

POLYPOLY

An economical term, used to refer to a situation in which the number of buyers far exceeds the number of sellers.

PORT OF ORIGIN

A place from where a consignment has begun its carriage by sea.

POSITION POWER

The authority/ influence that is given to the individual who possesses an office or is given a position.

POSTDATE

The antonym of ante date, ‘post date’ is any date that lies in the future.

POTENTIAL TERMINATION LIABILITY

The total amount of money which needs to be paid to any contracting party that fails to perform to the injured, or aggrieved party.

PREARRANGED TRADING

A type of trading, considered illegal, in which participants within the market arrange between themselves regarding how they are going to perform in the future.

PREDICTIVE MAINTENANCE

Maintenance work that is carried out on a certain item/ machine/ building, etc. before it is actually required. Generally done so as to keep the system working in a top notch condition.

PREFERRED HABITAT THEORY

A theory which states that individual investors generally have a preferred limit of lengths when it comes to the maturity of any bond, and an investor is only liable to go out

PREMIUM NOTICE

A notice issued in order to provide the exact date on which a premium will become payable.

OXYGENATE

Chemicals that are used to raise the oxygen level in a blend of gasoline. This is done to reduce the polluting substances from the exhaust gases and to increase the octane rating.

PAGE LAYOUT

The layout of a page determines the text, pictures as well as the various other aspects and positions on which they will be printed on the page.

PAIRED COMPARISON

A paired comparison is usually a method in which a certain employee, and his/ her job is compared with another employee of a similar post, and his/ her job. Usually, such paired

PAPER SIZES

Sizes specified by the American National Standards Institute. Used primarily in a number of Caribbean countries, Canada and US, their dimensions are as follows: (1) 25 x 38 inch (2) 23 x

PARAMETRIC ANALYSIS

An analysis taken to describe, analyze and examine the different relations amongst various parameters, for e.g. schedules and costs.

PAROL CONTRACT

A contract made solely on word of mouth. Or, a partially written contract; collateral contract or an express contract that is not based upon a deed.

PASCAL

Named after Blaise Pascal, Pascal is the metric unit used to measure the pressure of anything. It is defined as the newton force per meter (squared).

PASSPHRASE

Any sentence, or quote, etc. which can be remembered easil. It is used on a common basis as a replacement for a password.

PATH DEPENDENCY

The chance of any past practice being continued regardless of the fact that better options are present.

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