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

Category: Finance

NOTICE TO VACATE

A notice that is written by either the landlord or tenant giving a notice to leave the premises within a specified time frame, or to demand the same. The notice is typically

NUMERIC RELIABILITY

The probability that an item will fulfill its operations for the duration specified without being spoilt.

OBJECT ORIENTED ARCHITECTURE

The ease of manipulation granted by this design method is possible through the representation of files and other operations as data structures.

OCCUPATIONAL HAZARD

The potential risks to life or functioning of an individual that is inherently associated with his occupation or work environment. Some of these hazards lead to the contraction of a disease or

OFF PREMISE BANKING

Banking activities or transactions that occur at ATM machines located outsidethe premises of the bank, usually in malls or markets.

OFFICE EQUIPMENT

Assets such as furniture and computers that are absolutely essential to the operations of the company

OFFICIOUS INTERMEDDLER

A person under no obligation to confer a benefit or privelege to another individual, but does so unilaterally. This person cannot expect anything in return for the performance of the aforementioned deed.

OFFSHORING

The transfer of the operations of a company to another country with favourable economic conditions or due to the availability of cheap labor in the other country.

OLD LINE

A nonfraternal insurer who operates on the basis of a legal reserve is referred to as the old line.

ON PACK PREMIUM

A discount or gift voucher that is placed on a product or its packaging to increase the likelihood of impulse purchases. Often used with products new to the market.

ONLINE ADVERTISING

The use of websites, search engines and emails, to send promotional messages to Internet users. Because a site?s visitors often share information about themselves during registration, this advertising can be tailored to

OPAQUE FARE

A flight ticket purchased at a heavy discount without a flight time or flight number, to be used at the airline’s discretion.

OPEN MARKET PURCHASING

Buying goods without negotiating or signing contracts, usually in small quantities or in an emergency.

OPEN STANDARD

A protocol that is governed by an organization anyone can join.

OPERATE

1. To run some part of machinery or a business. 2. To function properly. 3. To perform medical surgery.

OPPORTUNISM

Exploiting situations for personal gain, without considering others.

OPTION TO RENEW

In a contract, this clause allows the buyer, obligor or a lessee to renew a concluded contract for another term.

ORDER BOOK

When an initial public offering of shares is made, this is a list of investors who have subscribed to buy shares.

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