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

Category: Finance

UNITIZATION

1. Combination of cartons, boxes, pails, etc., in one load ready for transport with ease of handling and identification. See containerization. 2. Converting an investment company to a unit trust.

UNLIMITED WANTS

Part of human nature where we want many things but are unable to afford them all.

UPSELLING

Selling strategy where seller will provide opportunities to buy other products and services just to make a bigger sale.

VALUATION CLAUSE

Provision of an durance policy where the insured and insurer have agreed on the value of goods.

VALUE OF ENTRY

Total value of declared items on a duty entry form accepted by customs.

VALUES, ATTITUDES, AND LIFESTYLES SYSTEM (VALS-2)

Proprietary psychographic consumer segmentation system classifying people into 8 groups based on lifestyle. 1. Actualizes, 2, Fulfillers, 3. Achievers, 4. Believers, 5. Strives, 6. Experiencers, 7. Makers, 8. Strugglers.

VERSION

Releases of the same item with changes made along the way.

VIRTUOUS CIRCLE

Advantageous situation that self propagates. Successful solutions lead to more success and more etc. See vicious circle.

VITAL RECORD

Document, record or file in any format with information essential, necessary to create and organize operations and survival of an organization.

VOLENTI NON FIT INJURIA

Legal principle where one voluntarily and knowingly consents to take risks such as in dangerous sports.

VOYAGE CHARTER

Vessel of transport used for a number of trips (voyages). Also known as spot charter. See time charter.

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