Category: L

Term coined by Maltese-born UK psychologist, Dr. Edward de Bono, in his 1970 book, ‘Lateral Thinking.’ Technique to generate Ideas and solve problems. New concepts-building looks for novel ways. Contrast logical, ‘vertical’

Biased judgment assuming that a small number of observations or data points can predict outcome from a larger sample population. Also refer to law of large numbers.

When a representative acts as leader of the board. Refer to presiding directory, residing director, and nonexecutive director.

Spacing between lines of text as a vertical amount. .

Tenant / renter / lessee-held real property on a fixed-term lease that returns to its freehold owner / lessor.

Intangible asset’s lawful duration. Patent or copyright is an example of such an asset. If an asset’s economic life is shorter than its legal life, the computed amortization uses the economic life.

It may or may not also be a depository institution. A bank, credit union, or finance company that makes loans.

Goods, services, space, agreed-to prices, terms, and time are all particulars documented in what becomes a binding contract once the associated parties all sign it.

Refuseal to comply with a stated contract requirement is documented in this written confirmation. Clearly states why and must suggest alternatives for resolution. A subcontractor or vendor not willing to disclose proprietary

Buyer interest for a specific product in a specific purchase decision as a degree of intensity.

A three-party lease contract for an asset bought by the lessor by borrowing most or all of the monies to purchase the leased asset. Under this contract, (1) the lessor has no

Someone entitled to an asset’s use during one’s lifetime, named as a beneficiary

Upon untimely death of its policy holder, the insured, a financial intermediary as the insurer, shares the financial risk.

Personal goods and merchandise are exported overseas in this sturdy wooden crate.

At a specific maximum or minimum price, client-to-broker instruction say buy or sell an item. An action in commodities and securities trading. A balance may be kept for later execution If the

An insured’s whole life is covered by this insurance but only required for a set numbers of years to pay premiums.

A revenue-generating department’s head manager accountable for policy making, target setting, decision making leading to successfully meeting an organization’s main objectives.

Long distance cargo transport for more than 1,500 kilometers or 1,000 miles between two major cities or ports.

Entity that sells categorized lists for use in direct mail campaigns, of people in a geographical area.

current is flowing through this part of electrical wiring. Contrast to a ground wire or a neutral wire. Also known as hot wire.