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

Category: Finance

UNIFORM FORMS

Standard form used by insurers that are worded in a set way.

UNIT OF ACCOUNT

unit where an items value is compared and accounted. Money’s primary function.

UNITIZED LOAD

Load of many articles bound together for transport and handling as one unit.

UNREALIZED PROFIT/LOSS

Paper profit or loss not becoming actual until the asset is sold, disposed of or redeemed. Also known as unrealized gain/loss.

UNSTRUCTURED INTERVIEW

An interview without any set format or formula for questions asked. Also known as a non-directive interview.

UPSIDE POTENTIAL

Difference in current trading price of a security and the level it is likely to rise up to.

USA PATRIOT ACT

Act passed after September 11 2001 giving law enforcement agencies tool to prevent acts of terror.

UTILITIES EXPENSE

Cost of using utilities like water, electricity. Found on financial statements.

VALUE ADDED

1. Accounting. Alternate term for Gross income. 2. Economics. Difference of sales revenue and costs to produce. See economic value. 3. Marketing. Creating an advantage over the competition by adding more products

VALUE BILLING

Charges for a service not based on time taken but on the price of the service.

VANDALISM

Mindless and malicious harm and injury to another’s property.

VEBLEN EFFECT

Abnormal behavior of a market where higher priced goods are bought even though lower priced substitutes are available.

VERSO

Side of book on the left-hand side with an even page number. Opposite is recto.

VEST

1. Confer right of legal ownership. 2. Confer legal authority, rights, power. 3. Designation of endowment of power, authority, rights.

VICKREY AUCTION

Sealed auction bid where successful bidder pays second top price. Also known as second bid auction, second price auction.

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This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.