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

Category: O

OPTION HOLDER

A buyer of options who has yet to exercise or sell an option.

ORGANIZATIONAL POLITICS

Selfish pursuit of individual agendas by members of an organization, with no regard to the impact on the organization?s stated goals.

ORIGINATION FEE

This charge is imposed by a lender on a borrower to cover costs incurred during the mortgage application.

OUTPLACEMENT

The means by which a company helps recently laid off employees find alternative employment. Typically involves the commission of an outside agency, paid for by the company doing the laying off.

OVERHEAD

1. A resource that is used up during a process, that is not part of the finished product. 2. Accounting: An expenditure or cost that (1) is related to either a specific

OVERNIGHT RATE

These are the interest rates charged by one bank to another for providing funds overnight.

OVERTIME

Hours that are worked in addition to an employee?s usual working hours (depending on company rules, contracts, union agreements and the law).

OBJECT COST

The total sum of direct and indirect costs to the manufacturer on a product or service provided.

OCCUPANCY AGREEMENT

The agreement that allows the buyer to occupy a property beforethe deal is finalized. This is in consideration with the payment of a specified amount of rent.

OFF BALANCE SHEET CONDUITS

The issuance of highly rated commercial papers is carried out by financial institutions through the use of this instrument. It is treated as a separate entity that is not registered on the

OFFER TO ALL THE WORLD

A public advertisement offering all individuals a reward, usually a monetary compensation in exchange for some valuable information that the individual is aware of.

OFFICIAL STAFF COMMENTARY

The Federal reserve’s commentary that provides an explanation of the interpretations of regulations while acting as a guide to consumer’s exercise of rights. The format of the commentary follows that of a

OFFSHORE MANUFACTURING

Manufacturing or assembly at an offshore facility due its relatively cheaper labor and raw material costs. The finished goods are then imported into the manufacturer’s home country.

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