The Law Dictionary

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

Category: M

MINI MILL

Scrap mixed with directly reduced iron (DRI) is used by this type of steel mill that makes metal not from the ore.

MINT RATIO

This specific ratio is a comparison of the gold ounce price to the silver ounce price.

MISSION STATEMENT

An organization’s core purpose and focus as a written declaration. Remains relatively unchanged over time. Properly designed mission statements (1) separate and identify priorities, (2) identify markets in focus, and (3) communicates

MIXED JURY

Panel of jurors made up of both genders as well as different ethnic groups.

MOCHIAI

A cross share holders network in a keiretsu company.

MODULATING

Not being full-on or full off; changing incrementally.

MONETARY BASE

Country’s liquid financial assets totaled. As reserve requirement with the central bank, held by financial institutions in their vaults, and in circulation held by public, this base consists of currency, both notes

MONETARY WORKING CAPITAL ADJUSTMENT (MWCA)

An inflation adjustment posted to an account for the changing prices of goods and/or services including items such as prepaid expenses, receivable bills, and trade debtors used by business, excluding stock.

MONEY MARKET FUND (MMF)

Specific type of open-ended mutual fund. Invests in highly liquid short-term financial instruments with maturities typically 90 days to less than one year. Pays money market account (MMA) interest rates. Negotiable certificates

MONITOR

To keep track of, to check, to supervise, or to watch. To assess whether a critical point is under control in the context of an HACCP plan, conducting a systematic and repeated

MONTH-END CLOSING

A month-end accounting procedure for closing the current posting period as a company’s monthly periodic closing operations. Fixed assets depreciation, inventory discrepancy reconcilement, work-in-progress material settlement, payroll, and billing content posting are

MORALE HAZARD

Circumstance increasing loss-occurrence probability or abnormal loss due to an insurance policy applicant’s indifferent attitude after policy issuance. The insured being careless in locking the doors and windows when leaving home is

MORTGAGE BACKED BOND

A lien on the bond issuer’s assets, payable from the issuer’s income secures this type of bond. These bonds offer a more predictable maturity with call protection against the bond’s early redemption,

MORTGAGE FALLOUT

Within the mortgage originator’s pipeline home loans closings lost as a percentage. This percentage is an extremely important part of the mortgage lender’s overall efficiency. Fallout assumptions are used in the mortgage

MORTGAGE PAYABLE

Listed as a long-term liability in a firm’s balance sheet. The obligation’s current portion that is due within a year of the balance sheet date is listed as a current liability.

MOTOR TRUCK CARGO POLICY-OWNERS FORM

Truck owner coverage against a loss of the trucker’s property while in use transporting cargo. Regardless of legally liability for the loss, this form also covers cargo loss or damage,

MULIPLEXER

To allow two or more signals to pass over one communication circuit, like a phone line, this specific type of electronic device combines the signals. At the receiving end, the combined signal

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