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

Category: Finance

OPTIMAL STEP

The largest quantity of instruction a trainee or student can digest, without experiencing some loss of motivation or instructional uptake.

OPTIONER

The deliverer of option rights to an optionee.

ORDER OF DISCHARGE

1. Bankruptcy: Court order that frees the bankrupt from legal obligations to pay off current debts. 2. Contracting: Court order that ends a contractual obligation between two or more parties.

ORGANIZATION CHANGE

The adoption of large-scale changes to organizational policies, processes, structures or strategies.

ORIGINAL EQUIPMENT MANUFACTURER (OEM)

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

OTHER INCOME

This income is obtained by transactions outside of day-to-day business operations.

OUT OF SCOPE CHANGE

Work that is considered beyond the scope of the original contract, requiring an alteration to the cost or price.

OUTLINE SPECIFICATIONS

An initial set of specifications, upon which more detailed specifications are based later in the design process.

OVER INSURED

An individual whose insurance coverage is worth more than the item(s) being insured.

OVERDRAFT CAP

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.

OVERLIE

The amount by which an insurer has exceeded its usual capacity (or has committed beyond its usual capacity).

OVERSUBSCRIPTION

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.

OWNERS’ EQUITY

The capital invested in a corporation, based on the deduction of the book value of liabilities from the book value of assets.

NOMINAL RATE OF INTEREST

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

NONBAILABLE

An offense that has led to the rejection of bail for the accused.

NON-COMMERCIAL ADVERTISING

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.

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