The Law Dictionary

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

Category: M

MERIT PAY

Employee’s salary based on performance results measured according to an agreed upon criteria over a pre-determined period.

METERED MAIL

Mail that uses printed or stamped images from a postage meter rather than individual stamps for postage. Used by organizations that mail large quantities. Metered mail is more efficient handling for high-volume

MEZZANINE LEVEL

Between startup and initial public offering (IPO) exists this specific type of a firm’s growth stage.

MICROECONOMIC POLICY

Specific sectors, industries, markets, or demographics are targeted by this specific type of economic policy. Specific ways of businesses and consumers interaction is the focus. Intended to bring about economic or political

MICROORGANISM

Visible under a microscope, this type of living organism is too small to be seen with naked eye. Also known as microbe.

MIDDLE-OF-THE-ROAD

An expression typically meaning that this entity is taking no extremes in its strategies. It also refers to entities that target customers in the median income and spending tendencies range. The focus

MILK RUN

In the past, it meant an easy, simple delivery schedule. In current terms, it is a delivery method for different suppliers and mixed loads together. This method is from the dairy industry

MINERAL LEASE

In exchange for predetermined compensation, this is a specific type of lease arrangement between an entity and a property owner. It grants the entity the rights to explore to determine if minerals

MINIMUM INVENTORY

To avoid depleting the safety stock a replenishment order should be placed at a preset point in the stock control system as this specific type of control limit .

MINORITY INTEREST

1. Non-controlling stockholders’ and shareholders’ tallied equity. 2. These are the subsidiaries of a firm that does not hold controlling interest in that firm’s consolidated accounts.

MISMATCH BOND

A floating rate type of note or bond. An interest rate gives added yield to this type of bond. Even though the rollover period is shorter, the rate is frequently set as

MIXED ECONOMY

Private enterprise and some state monopoly coexist in this type of economic system. Public services, defense, infrastructure, and basic industries are some of these state monopolies. The means of production are shared

MOBILITY OF CAPITAL

Private funds ability to move across national boundaries seeking higher returns. The absence of currency restriction on the inflows and outflows of capital are essential to this ability.

MOMENTUM INVESTOR

On the basis of increases and declines as trading momentum for a given security making buy-and-sell decisions at least in part by this type of investor .

MONETARY UNIT

Currency unit’s base value. A dollar, euro, peso, rupee issued as a coin or banknote is a standard value and account unit. Multiples like a $1, $5, $10, and the like, or

MONEY MARKET ACCOUNT (MMA)

Special savings account that pays a varying interest rate higher on average than an ordinary savings account’s interest rate. There are constraints on this special account., however. A specific minimum credit balance

MONEY-CENTER BANK

A specific type of financial institution that transacts money movement with other banks, government, and very large corporations. The general public and typical business are excluded.

MONOSPONY

Unique market situation. Several producers compete for a single buyer’s business. War-related goods, like aircraft, artillery pieces, missiles, and other weapons, for example, have a government as its the sole customer.

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