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

Category: M

MUNICIPAL UTILITY DISTRICT (MUD)

Providing utility-related services such as water, sewage, and drainage services is the job of this specific type of political entity. Enacted by state law and funded by special assessment bonds. One’s property

MACHINE LEARNING

Using repetition and experience as how humans seem to learn. Using software whose operations mimic these methods, employing artificial intelligence techniques to enhance the ability of a machine to improve its own

MAGAZINE

Typically, a monthly, general interest or specific focus periodical. Characteristics are that it covers several topics by short articles of about 3-pages long, that are submitted by in-house and external authors, carrying

MAINTENANCE LEVEL

Organization’s maintenance operations on three unique levels: (1) organizational level maintenance, (2) intermediate level maintenance, and (3) depot level maintenance. The scope of maintenance activity at each maintenance level requires equipment, facilities,

MAKE WHOLE PROVISION

Pre-maturity-date payoff as a bond option for the borrower. with regard to amount with regard to amount is the basis for the expected lump so if doing so.

MANAGED FUND

To reduce risk of loss in a downturn several types of securities are invested by this broad-based mutual fund. To serve the needs of smaller investors and managed by insurance companies are

MANAGING DIRECTOR

A term that is more common in British English. Much less used in American English. Another name for chief executive officer (CEO).

MANUAL ELEMENT

Machine operator’s actions having no machine involvement as a measurable work cycle’s subdivision.

MAPPING

1. In General, this is making a graphical representation, a map or flow, of something. That something can be a road, a procedure, a process, a structure, or a system. The map

MARGINAL OUTLAY

Consumer’s outlay change divided by the corresponding total quantity purchased change.

MARGINAL RATE OF TECHNICAL SUBSTITUTION

Without affecting output quality, this is the rate of technical substitution a producer can make by exchanging a small input amount of capital, for example, for a small input amount of labor,

MARKET NEUTRAL STRATEGY

Securities investing strategy that leaves the portfolio’s yield largely unaffected by the market’s systemic risk. The investor assembles a grouping of long and short trading positions into a portfolio of equity and

MARKETING THEME

Having maximum appeal to a targeted market segment as leverage in a central marketing idea or message, or a product benefit or feature.

MARXIST

A follower of the Marxism ideology and its principles.

MASTER LABOR AGREEMENT

an entire industry obligated to this type of labor contract. The trucking industry is an example. A local level supplemental agreement can augment such a master labor agreement.

MATERIAL ALTERATION

Significant changes, as additions to and/or deletions from text in a legal sense or effect to a legal instrument, such as a contract, deed, will, or the like. Such changes may invalidate

MATHEMATICAL PROGRAMMING

To choose the best alternative from a set of available options one can use this type of computer program. Probability and mathematical models are used to predict future events. Used in investing

MATURITY MATCHING

In asset management, this is on organization’s synchronization of cash inflows with cash outflows. Maturity of income-producing assets and debt maturity of interest incurring liabilities are matched.

MAXIMUM LIKELIHOOD CRITERION

Under conditions of uncertainty this is a decision making rule in decision theory. It states that the decision maker Ignoring all possible events save the one most likely to occur that produces

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