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

Category: M

MARKUP LANGUAGE

Describing, and wrapping or encapsulating data and its attributes using a specialized computer language. A markup language embeds processing instructions, called tags, in electronic documents. This is done to accurately style and

MASTER AGREEMENT

One legal document that consolidates separate but related agreements between the same signing parties. Also known as master contract.

MASTER TRUST

A trust company manages several trust properties as a single trust property acting as a trustee for a group of associated trustors or firms under this type of custody arrangement.

MATERIAL PARTICIPATION TEST

A taxpayer is identified as a material participant in a business by this specific type of criteria. Income received by the taxpayer from that business will be identified as active or passive

MATURE MARKET

One that is functioning without change or innovation or has no growth.

MAXIMUM ACCEPTABLE TOXIC CONCENTRATION

Environment’s toxic substance concentrations range starting at ‘no observable adverse effect level’ and limiting at the ‘lowest observable adverse effect level’.

MCF

Cubic feet symbol for one thousand, not 1 million). It equals 28.32 cubic meters.

MECHANIZATION

Making investment decisions through sophisticated computer programs. Mechanization depends totally on coded logic, calculations and computerized modeling

MEDICAL SAVINGS ACCOUNT

Derived from a portion of the employee’s premium payments, employer contributions make up this specific type of account. With the remainder eligible for cash withdrawal, the employee pays for any medical expenses

MEMBER MONTH

Each month a tally of participants considered to be members.

MENTORING

An advisor, counselor, or guide to a junior or trainee active in a training system seen often in companies for employees. A senior or more experienced individual is the assigned mentor. Providing

MESSAGE

From a communicator to a receiver, the central or primary content or information, or underlying idea or theme in an ad is transmitted.

METHODS-TIME MEASUREMENT (MTM)

in a production process with manual tasks, this is a specific way of establishing performance benchmarks. Methods-Time-Measurement uses statistics and research to assign durations to each physical movement involved in a task.

MICROBRIDGE

Rail-borne or truck-borne cargo transfers directly onto ships at this specific type of port facility. Also refer to landbridge.

MICROMANAGEMENT

Constant close, detailed, and often demotivating scrutiny of employees’ work.

MIDDLE CLASS

White-collar, non-manual workers, lower-level managers, and small business owners make up this specific type of social class. Holds about one-third of the country’s employed population. This class’s income is higher than the

MILES PER GALLON (MPG)

Automobile fuel consumption measure, ,mainly in the US. One MPG equals about 0.42 kilometers per liter. Kilometers is generally used in other countries.

MILLION INSTRUCTIONS PER SECOND (MIPS)

Program’s instructions execution rate. While executing a standard program, a computer does so with the computer’s processor clock speed at a measurable rate.

MINIMUM DEPOSIT POLICY

As soon as the first-year premiums are paid, the insured is able to borrow against this specific type of policy that carries a first-year loan value, which is unusual with life insurance

MINORITY DISCOUNT

Because a non-owner or minority owner cannot maintain or otherwise engage in the business’ operations, this specific type of discount is received by shareholders, company owners of less that 50% ownership, and

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