The Law Dictionary

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

Category: J

JUDGMENT ON MERITS

the used for the decision of a court that is based on the facts that have been presented.

JURY PETIT

This term is used to describe the ordinary and common jury that will try most civil and criminal cases.

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.

JUDICIAL FORECLOSURE

Civil lawsuits for foreclosure is standard in certain states. Used when a property owner fails to pay debts. Turns over real estate to a lender or third party to pay the debt.

JUNIOR PARTNER

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

JUST IN TIME INSTRUCTION

To avoid a time gap and loss of retention, required knowledge and skills are learned for immediate application in this training scheme.

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

JUDICIAL NOTICE

Evidence in some cases without hearing or inquiry, is accepted by a court. It is typically a well known or notorious or indisputable, proven fact.

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 IN TIME MANUFACTURING

For quicker response to customer needs with no large finished goods or goods-in-process inventories, JIT inventory system is applied to production lines.

JOURNAL VOUCHER

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

JUDICIAL OFFICER

A justice for the peace, magistrate, or judge or any other officer of the court.

JUNIOR SUITE

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

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.

JOURNALING

Logging of all datafile updates in database management, simultaneously, real time. The original file, damaged or destroyed, uses this log as an audit trail to reconstruct the database.

JUDICIAL OPINION

Judge’s written case-judgment explanation. A majority decision applies where a bench consists of three or more judges. Concurrence agrees and dissention disagrees with the majority decision. Also refer to legal opinion.

JUNK BOND FUND

Investing primarily for high rates of return at higher risks, a mutual fund in bonds Standard & Poor’s rates lower than investment grade rated ‘BB’ or below and Moody’s rates ‘Ba’ or

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

JOURNALIZING

A double entry bookkeeping system of financial data pertaining to a specific transaction, in a journal usually taken from a journal voucher. Needed transaction data: (1) date done; (2) debit amount and

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