ORAL WILL
A will communicated verbally to witnesses, rather than in writing, usually when the person is near death. Few states accept oral wills, due to the possibility of fraud, and they are generally
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
A will communicated verbally to witnesses, rather than in writing, usually when the person is near death. Few states accept oral wills, due to the possibility of fraud, and they are generally
Assets that do not qualify as capital.
In 1913, William Howard Taft ratified this law that split the Department of Commerce and Labor into two separate departments (the Department of Law and the Department of Commerce).
Individual behavior that is not mandated, but promotes the interests of the organization.
Teams, groups or departments within an organization with specific functions and objectives, and with their own allocated resources.
One complete cycle of to and fro motion from one extreme to another, and back to the original position.
Classification term that applies to costs and revenues related to activities beyond the core business of a firm.
Adverts displayed outside buildings and along the roadside.
Purchase agreement that obligates a buyer to purchase (at fixed prices) everything a supplier produces during a fixed period.
When company invests more than it has to in a production unit to produce a superior product.
Ongoing expenses incurred by the day-to-day running of a business. Includes utilities, rent and subscriptions.
1. The income from commissions received by a sales manager, based on the total sales made by his or her subordinates. 2. The payment of fees by a seller to a broker
1. General: Occurs when a business conducts more transactions than its working capital can sustain, straining cash flow and creating the risk of insolvency. 2. Securities trading: A trader?s attempt to extract
An operating system that utilizes objects in its user interface or programming language.
The workplace surroundings that encompasses the physical and social environment.
A product that is usually offered at a lower price during a period of minimal demand.
An insurance policy with a low limit that insures office equipment and supplies against robbery or loss.
A test used to determine if an unstated condition was originally implied at the time of writing the contract. In the method, an investigator tries to determine if the contracting parties had
A trust that is set up in a location, usually another country, different from the trustor’s location.
Economies having their roots in the Industrial Revolution and the bulk manufacturing of physical goods, whose objects are valued based on their physical properties. These include the energy sector, the steel and