ORDINARY LOSS
Losses caused by day-to-day business operations.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
Losses caused by day-to-day business operations.
The adoption of large-scale changes to organizational policies, processes, structures or strategies.
The sum of all knowledge within an organization, pooled between all of its members.
1. Company that manufactures or produces complete end products or subassemblies used within end products. 2. Computers: A custom manufacturer who puts together and sells whole computer systems, rather than simply producing
This income is obtained by transactions outside of day-to-day business operations.
Work that is considered beyond the scope of the original contract, requiring an alteration to the cost or price.
An initial set of specifications, upon which more detailed specifications are based later in the design process.
An individual whose insurance coverage is worth more than the item(s) being insured.
This is the maximum amount of money that one bank will transfer to another in one day, limiting the bank?s exposure to monetary transfer risks.
The amount by which an insurer has exceeded its usual capacity (or has committed beyond its usual capacity).
It is the condition where the number of shares is less than the demand from buyers. The stock price is pushed higher as a result.
The capital invested in a corporation, based on the deduction of the book value of liabilities from the book value of assets.
1. Bank deposits: The stated rate of interest on deposits that is expressed in terms of current dollar, which does not take the effects of inflation and compounding into effect. It is
A set of measures aimed to restrict imports and does not include high import duties or tariffs.
An offense that has led to the rejection of bail for the accused.
Advertisements such as public service announcements that are aimed at educating the consumers or instilling an idea in them. They are often used in the electoral process to gain votes.
A will stated by a person on his death bed in the accompaniment of witnesses.
In the event of any foreclosure action against the landlord, this agreement between the tenant and the landlord’s lender ensures that the tenant is not robbed of possession of his leased party.
The policy payments that the insured is entitled to in the event of a cesation of payments. The insured has a choice between the cash surrender value, the paid up surrender value,the
Bill of Lading that prohibits use of endorsement to transfer.