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

Category: M

MATILDA

A note issued in Australian currency to the Australian markey by a foreign country.

MATURITY MISMATCH

Event noted by a mismatched balance sheet, having one of several situations of unbalance between short-term to medium-term to long-term assets to liabilities. A company also indicates its ability to borrow by

MAXIMUM LOAN AMOUNT

A borrower’s secured loan’s highest dollar limit. Set by the lender according to the purpose of securing the loan as well as various factors related to the borrower. The selected loan program,

MEAN TIME BETWEEN FAILURES (MTBF)

The reliability of repairable items quantified as a basic measure. For computers, MTBF is called power on hours (POH). Duty cycles, time cycles, distance, events, and the like are known as life

MEDICAL DISASTER

In the wake of a disastrous event, its health care system is overwhelmed, resulting in so many needy that the general health level of a community or society declines gradually or sharply.

MEMORANDUM OF ASSOCIATION

British document regulating a company’s external activities. Required to presented at a registered or incorporated company’s formation. Along with the company’s articles of association, as the company’s charter, it forms the company’s

MERCOSUR

MERcado COmain del SUR. Argentina, Brazil, Paraguay, and Uruguay formed this customs union established under the 1991 Treaty Of Asunciean. In 1996, Bolivia and Chile joined it as its associate members. Following

METAPROBLEM

An issue underlying several other problems. Essential to resolving these problems is understanding, and possibly resolving, this underlying issue. For example, society, or a section of a society, is suffering from crime,

MEZZANINE FINANCING

Un-conventional funding having both debt and equity characteristics. It has equity-based options, like warrants, and lower-priority, subordinate debt. It is most commonly used to finance acquisitions and buyouts. Another example of mezzanine

MICROENVIRONMENT

An organization’s immediate area of operations, its performance and decision-making freedom varies based on specific environmental factors or elements. Competitors, customers, distribution channels, suppliers, and the general public are some of these

MICROSOFT

Company founded in 1975 by former CEO Bill Gates. Technology corporation that develops computer software and interfaces with the World Wide Web (WWW). Microsoft Windows is an operating system that is the

MID-POINT CONVENTION

During the accounting period a company may acquire an asset, but only recognizes it within a specific, different time of the year.

MILL SCALE

During the hotworking of metals, a layer forms of this type of dark brown or black oxide.

MINIMAX PRINCIPLE

Minimizing the maximum losses that could occur in an event or situation is this specific type of decision-making principle. Should a strategy fail, this financial and business strategy measures potential results leading

MINIMUM RETROSPECTIVE PREMIUM

A retrospective rating plan’s premium. No matter what losses occur under a given plan, this is the smallest amount the insured can pay.

MIRANDA RULE

US legal requirement that a criminal suspect shall be told of standing constitutional rights before being interrogated. This rule results from the 1966 case of Miranda vs. State of Arizona. This requirement

MISUSE

A good, substance, privilege, or right used improperly, unforeseeably, or not as intended.

MOBILE PHONE

Portable, wireless telephone device. Cellular towers connect the calls between two devices. Mobile phones are the most widely used portable device in the world, using transmitted frequencies. Motorola developed the first mobile

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