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

Category: Finance

PAY AS YOU EARN (PAYE)

A method of paying tax in which an employer must deduct income tax on his employees. Should be deposited after 14 days of collection.

PAYABLES TURNOVER

The turnover ratio determining whether the company the company repays its supppliers quicker or slower than before.

PAYMENT SYSTEM

A system developed to provide ease in transferring funds from the suppliers to the borrowers, or from payers to payees. An exchange of credits and debits take place between the financial institutions

PECULIAR RISK DOCTRINE

A legal principle which states that if the owner of any property is getting construction done on it, the owner will stand responsible for any injuries that occur during the construction.

PENSIONE

A term commonly used in European countries, depicting hotel lodging or accommoding in a guest house.

PERCENTAGE LEASE

When the rental amount is calculated at a certain fraction of the sales that are generated by the leased property, that commercial lease is known as a percentage lease.

PERIODIC REPORT

A report published at a fixed interval, summarizing the events that occurred during that period.

PERMANENT ESTABLISHMENT

A fixed location from where business operations take place. Examples include offices, workshops and factories, etc. Taxes are charged on the permanent establishment if a business intends to perform for a longer

PERSISTENCE

The amount of time that a substance can persist in any environment after being introduced in to a new surrounding.

PERVERSE INCENTIVE

Anything that incites, or determines somebody to take action in order to receive that incentive, usually resulting in damaging circumstances afterwards.

PHANTOM PROFIT

When a cash transaction has been written in the books, while no cash was ever deposited for it.

PHOSPHATES

Compounds that are usually inorganic, and contain a lot of phosphorus. Common applications of phosphate include detergents and fertilizers. Phosphates can harm the water, as it leads to excessive growth of algae.

PHYSIOLOGICAL

Something that is related to the human body, or any living organism for that matter.

PIGGYBACK MARKETING

An initial marketing strategy that is pretty low costing, since it involves two, or more than two firms, who will market each other’s products in the right markets for maximum publicity.

PISCAN DOCUMENT

The Piscan document states that all debits must be equal to credits.

PLANOGRAM

An drawing created by shopkeepers in order to get a better idea of how to effectively manage space on shelves.

PLEA IN BAR

An answer given by the defendant which completely defeats all actions/ charges levied by the plaintiff.

POINT OF CONTACT

A perons, or any platfororm from whom people can gain guidance, and he can be the coordinator.

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