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

Category: M

MAILMERGE

Function available in most word processing programs that merges text and a form-letter intended for many recipients, but with each letter personalized for each recipient. The program formats each recipient’s name and

MAJOR NONCONFORMANCE

The failure, or significant usability reduction of a facility, machine, plant, program, project, or system that is likely to result in a non-critical non-conformance.

MALONEY ACT

Securities Exchange Act of 1934 amendment. The over-the-counter market oversight responsibility was assigned to a Self-Regulatory Organization (SRO) registered with the Securities & Exchange Commission (SEC). See NASD.

MANAGEMENT INFORMATION SYSTEM (MIS)

The study of information needs as this organized method facilitates at every level in making operational, tactical, and strategic decisions by an organization’s management. Designing, implementing, maintaining procedures, processes, and routines to

MAN-MADE DISASTER

Deliberate or negligent human actions directly and principally caused one or more identifiable disastrous events. Also known as human-made disaster. Contrast to natural disaster.

MANUFACTURING RESOURCE PLANNING (MRP-II)

Interfaced resource system to a material requirements planning (MRP) process or system. It integrates a manufacturing firm’s total planning, not just production. Functions include: Business planning, production and schedule planning, required capacity

MARGINAL COST OF FUNDS

Assuming that a bank’s cost of funds remains the same, this is the cost of funding one additional loan.

MARGINAL PROFIT

The result of marginal revenue minus marginal cost. Marginal profit equals zero In the best-case scenario.

MARGINALIZATION

The process of according less importance to something or someone moved away from the inner workings of the group. A social phenomenon of excluding a minority, subgroup, or undesirables by ignoring their

MARKET DENSITY

A product’s potential customers tallied within a specific unit area of land. A square-mile or square-kilometer is the typical area unit.

MARKETABILITY

Selling similar items at a price at which this particular item is sold measures the relative ease of its marketability.

MARKUP PRICING

The activity of setting an item’s selling price by adding either a set percentage or some additional amount to an item’s cost price.

MASTER AND SERVANT

The master typically has total authority over the servant in directing the manner, place, and time of services in this type of relationship. Contrast to employer-employee relationships: an employee has some discretion

MASTERCARD

World-renown worldwide credit card corporation. On May 25, 2006 MasterCard converted from a privately held company to a public company. One of the three major credit cards accepted at vendors across the

MATERIALISM

1. What cannot be perceived, being of the mind, mental states, or spirit, does not exist in this concept. Only that in nature one can perceive through senses, it being physical, exists.

MATURE POLICIES

Having not lapsed in the last five years, this is a claims-made policy can no longer get issued immature policy rating credits.

M-COMMERCE

Using mobile communication devices like cell phones or personal digital assistants (PDA) to transact electronic commerce, ecommerce.

MEDALLION PROGRAM (STAMP)

The veracity that a person is who he or she claims to be, supporting the guarantee by this specific institution that the individual who signs a stock or certificate is that person.

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