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

Category: J

JOBBING

Constantly buying assets to boost profits.

JUNIOR CLAIM

Stating that a right is subordinate to another right. A second mortgagee’s right is subordinate to the primary mortgagee’s right. A claim lower in precedence than a prior or senior claim. An

JUST ON TIME

To achieve uninterrupted single-piece flow through an entire manufacturing process, Just-in-time (JIT) becomes just-on-time, as successive downstream activities immediately follow previous upstream activities.

JOINT STOCK COMPANY

A company selling stock to raise profits. Also called a corporation or a public limited company.

JUNIOR DEBT

Debt claim subordinate to a prior or senior claim. A senior claim of debt is cleared in a debtor’s asset liquidation before any subordinate debt claim is paid. Also known as subordinated

JUSTICE

Protecting rights and punishing wrongs using fairness. It is possible to have unjust laws, even with fair and proper administration of the law of the land as a way for all legal

JOINTLY AND SEVERALLY

A full loan balance is a liability to the signatories as a group or from each of them individually, with enough free assets to satisfy the lender’s claim. The lender may sue

JUNIOR ISSUE

Stock (shares) classified as subordinate to others issued. Distribution of rights issue, dividend payment, and capital repayment must occur to the superior issues before the subordinate issues are satisfied. Also refer to

JUSTIFICATION AND APPROVAL

Documented contracting statement detailing why a noncompetitive contract award instead of open competition was selected.

JUNIOR PARTNER

Partner with subordinate, lesser rights, involvement, authority, accountability, risks, and rewards than any senior, superior/primary partners.

JUSTIFIED TEXT

Spacing option of a paragraph or text block to force the first and last word in a line against the margins. Not considered suitable for personal communication, like letters. Used in books

JOURNAL ENTRY

journal voucher financial data recorded so that credits equal debits. An audit trail of business transactions in a journal. an organization’s financial position and the effects of the transactions can be analyzed

JUNIOR SECURITY

Subordinate investment vehicle, like a bond, debenture, stock share, whose claims and rights are subordinate or secondary to senior, primary investment vehicles. These claims and rights involve the assets and earnings of

JUST-WORLD PHENOMENON

Theory that bad things happen to people due to their previous bad acts. human tendency to rationalize injustice thinking that people will eventually want get what they want because the world is

JOURNAL PRINTER

Electronic cash register (ECR) or point of sale (POS) systems remote printer. Records cash transactions on a narrow (20column) paper tape at retail locations. An example is a supermarket checkout counter.

JUNIOR SUITE

A separate living / sitting area that is not a separate room is attached to a bedroom in this hotel accommodation.

JOURNAL PROPER

Miscellaneous credit transactions as original entries that do not fit into other recorded books. Books with used for opening entries, closing entries, transfer entries, adjustment entries, rectification entries, and rare transactions. Also

JUNK FAX

Sending unsolicited stock ads by facsimile transmission (fax). Just like junk mail or spam, over the lines instead of by postal mail or electronic mail. A marketing strategy.

JOURNAL VOUCHER

Every financial transaction hat meets defined requirements has this prepared, written authorization.

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