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

Category: M

MARGINAL PROPENSITY TO CONSUME

A small, disposable income’s change proportion potentially spent on consumption instead of being saved. Divide the consumption change by the causal disposable income change.

MARGRABE OPTION

US risk-management consultant William Margrabe invented this in 1978. Exchanging of one asset for another as the basis of a futures contract, like a cross currency option. He also devised a price

MARKETABLE TITLE

ownership Claim defect-free, claim-free, and lien-free. Asset or property owner can freely sell it. Also known as good title.

MARQUEE ASSET

An entity’s most appealing asset as it typically is worth the most or is the biggest contribution to the entity’s overall bottom line. A marquee asset is also known as a trophy

MASTER BRAND

A firm embodies and projects over all its other brands this particular type of singular, dominant brand.

MASTER’S DEGREE

Typically requiring four years of study and obtained from a college or university, this is a distinction as a higher level of education. A master’s degree program exists in almost all industries

MATERIALS MANAGEMENT

The complete cycle flow of materials, and the associated flow of information defined as this type of planning and control of the supporting functions. In typical sequence: (1) identification, (2) cataloging, (3)

MAXIMUM CONTAMINANT LEVEL

Certain water delivered contaminants in a user’s public drinking water supply has this limited highest allowable concentration.

MEALS AND ENTERTAINMENT EXPENSE

Meals and entertainment directly related to business operation are this paid amount, for income tax purposes. The IRS allowance for a business to deduct meals and entertainment expenses from its income is

MEDIA

1. News, entertainment, education, data, and promotional messages are sent world-wide through this type of communication channels. Every broadcasting and narrow casting medium, like newspapers, magazines, TV, radio, billboards, direct mail, telephone,

MEDICAL WASTE

discarded from medical facilities, blood or body tissue, and bedding, bandages, syringes, and the like are this specific type of biologic waste.

MEMBERS’ VOLUNTARY LIQUIDATION

A solvent firm’s liquidation by a resolution passed for voluntary shutdown of the business by its shareholders who also typically choose and appoint the liquidator. It requires a statutory solvency declaration by

MERCALLI SCALE

Earthquake intensity’s qualitative measure. Uses a linear empirical scale based on seismic phenomenon’s observed effects. Earthquake intensity plots on a scale I to XII. Roman numerals are used in contrast to the

METABOLISM

Essential to life and well being within a living organism chemical and physical processes that are continually occurring together make up this specific activity. Various enzymes work on complex food substances to

MICROCAP

In the US, an entity under 250 million dollar capitalization. This is less than small capitalization firms.

MICROMETER

One-millionth of a meter, equals 0.001 millimeter, equals 0.0000394 inch. Also known as micron.

MIDDLE OF MONTH TERMS

Deliveries or shipments made from the 1st to the 15th day of a month are billed as of the 15th day of that month in this specific type of Invoicing method. On

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