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

Category: O

OPENING STATEMENT

a term that is given to the initial statement of the attorney to the judge or the judge to a jury.

OPEN HEARING

the name of an investigation that is open to the public and is not a closed.

ODIUM

a term that describes hated and malice.

ORIGINAL PROCESS

This a term that applies to the procedure and the method that is sued to commence a law suit.

OXIDIZING AGENT

Those substances which release oxygen when the temperature goes above a certain point, causing sensitive organic material to ignite. An oxidizing agent can also be referred to as an oxidant. An example

OXY-ACETYLENE WELDING

A welding process created with the help of gases. Coalescence occurs when an oxygen flame mixes with acetylene gases when ignited.

OXYGEN DEMANDING MATERIAL

Decomposed material such as food waste and dead plant/ animal tissue which makes use of oxygen during the decomposition process. It reduces the amount of oxygen in the environment.   See Oxygen

OXYGENATE

Chemicals that are used to raise the oxygen level in a blend of gasoline. This is done to reduce the polluting substances from the exhaust gases and to increase the octane rating.

OXYGENATED FUEL

Known commonly as oxyfuel, oxygenated fuel is merely a blend of gasoline which contains oxygenates.

OZONE DEPLETION POTENTIAL (ODP)

A relative value that is calculated in comparison to chlorofluorocarbon11, which is referenced with a value of 1. This relative value is used to determine the level of damage that a ubstance

OBJECT

1. Accounting: The goods or services that was purchased. 2. Modeling: The modeling arhitecture’s portrayal of a real world situation through a representation. 3. Programming: A program that consists of data and

OBSOLETE STOCK

Items that are replaced due to their fall in value or functionality as a result of the availability of cheaper and better stock. They are cleared through the use of significant discounts

OF THE ESSENCE

A breach of contract is possible if the principal requirements that is so integral to the contract is not fulfilled.

OFFENSIVE COMPETITIVE STRATEGY

A strategy implemented by a company that intends to stay ahead of its competition, through investments in technology and research and development. This strategy is particularly useful when trying to change the

OFFICIAL RESERVE

The value of the nation’s reserve holdings encompassing gold reserves, tradable foreign currencies and special drawing rights.

OFFSHORE FUND

A mutual fund that is located in financial center that is located in another country, which is also referred to as offshore financial center (OFC)

OIL SPILL

A layer of crude or refined oil covering a large area of the soil or sea water caused by a leaking oil tanker.

ON BOARD

Common term used in shipping documents, such as bills of lading. Its use is not standardized, but the term usually means that the goods have been “received for carriage”. This may or

ONE-TIME BUYER

A consumer who purchases only one product or service from a business. With the correct incentives, a one-time buyer may become a repeat customer.

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