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

Category: P

POST REM STATEMENT

term that is used for the declaration that is made after a transaction has been completed.

PARTY OF RECORD

a term that is applied to the person who has been designated formally as a person engaged in a suit or in an appeal.

PARTNER DORMANT

a term that is used for a silent partner who isn’t widely known as a partner in a business. See partner, silent.

POSITIVE WRONG

the term given to a wilful and premeditated act that is wrongful and with the intent to cause harm.

PREPAID ASSOCIATION DUES

The fees charged by a company that is a part of a recognized organization. An example of such fees would be the rental fees charged by a rental company for the upkeep

PREPONDERANCE OF EVIDENCE

An evidence presented that provides more convincement than the pre-existing evidence presented in court. As such, the jury makes its verdict in the favor of the party which has a preponderance of

PRESUMPTION OF INNOCENCE

A system that is prevalent in the Commonwealth Nations where a defendant who enters trial is presumed to be innocent of the crime. However, this presumption only holds until the defendant is

PRIMARY RECORD

An original document that contains original signatures, seals,etc.

PRINTER CONTROLLER

A printed circuit board that often has its own own CPU. It converts the system’s output into a commang that is readable by the printer and helps it to print pages.

PRIVATE ANNUITY

The waivering of the taxes on capital gains on assets that have increased in value. The sale amount is put in an annuity that is dispensed to the annuinant over the course

PRIVATE NETWORK

An exclusive network for communication that is owned by a number of firms.

PROBABILITY SAMPLING

A method of sampling wherein every single sample has a known and fixed probability of being selected.

PROCESS CONTROL

The steps taken to ensure that the output of a process is consistent and stable, with a desired level of performance and minimal variance.

PRODUCT LAUNCH

The introduction of a new product into the market. It signifies the point where buyers have access to the product for the first time.

PROFIT MOTIVE

The main reason behind involvement of a large number of people in enterprising sector.

PROJECT FINANCING

A mode of financing the project where the repayment is based on the cash flows after the completion of the project and the fixed assets involved in the project are kept as

PROMOTION

Used in marketing to highlight a product and promote it to the general public by advertising and publicity. It is a way to increase sales in a particular category as it is

PROPERTY OTHER THAN MONEY AND SECURITIES

This property relates to items such as furniture and other office supplies that are not included as either property or money that still have some value to the owner. It is used

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