NONINSURABLE RISK
A risk with a high probability of loss, or failure to accurate measure the risk actuarially. As such, the risk cannot be insured.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
A risk with a high probability of loss, or failure to accurate measure the risk actuarially. As such, the risk cannot be insured.
Injuries that are sustained at work are not insured under this policy due to their coverage under the workers compensation.
Advantage gained by a product over its competition not by virtue of its attributes but by the creation of a distinct brand image through exclusive promotions, widespread distribution, superior customer service, etc
A ticket that prohibits monetary compensation when returned, but can be refunded for a fee.
An investment that ought to be cashed in a year after the start of the investment.
A treaty between Canada, the US and Mexico that was legislated in 1994, which removes tariffs and other barriers to facilitate easy trade between these countries. It lasts between five and ten
When negotiating a contract, it is the assurance from the vendor that the value of the property will not be greater than the proposed value and the estimates that will be submitted
The notification issued by a court to the participants of a lawsuit, highlighting the date of the schduled trial.
Something redundant, or that has no value, or effect, commonly used in the legal sense.
1. Accounting: The goods or services that was purchased. 2. Modeling: The modeling arhitecture’s portrayal of a real world situation through a representation. 3. Programming: A program that consists of data and
Items that are replaced due to their fall in value or functionality as a result of the availability of cheaper and better stock. They are cleared through the use of significant discounts
A breach of contract is possible if the principal requirements that is so integral to the contract is not fulfilled.
A strategy implemented by a company that intends to stay ahead of its competition, through investments in technology and research and development. This strategy is particularly useful when trying to change the
The value of the nation’s reserve holdings encompassing gold reserves, tradable foreign currencies and special drawing rights.
A mutual fund that is located in financial center that is located in another country, which is also referred to as offshore financial center (OFC)
A layer of crude or refined oil covering a large area of the soil or sea water caused by a leaking oil tanker.
Common term used in shipping documents, such as bills of lading. Its use is not standardized, but the term usually means that the goods have been “received for carriage”. This may or
A consumer who purchases only one product or service from a business. With the correct incentives, a one-time buyer may become a repeat customer.
1. The country in which you legally reside (and whose courts have jurisdiction over you). 2. On dry land, not at sea.
A bidding contest that concludes with the opening of sealed bids in a public forum, enabling all interested parties to witness the bids.