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

Category: P

PUBLICITY

The promotion of a news item by mass mdia such as television, radio, newspaper or internet about an event. This is not a sales promotion for items for sale. This type of

PURCHASING

The act by a person who buys goods and services from a trader or company. The goods and services can be for an individual or used by a company to complete an

PURPLE CURVE EFFECT

A book that was written by Thayer Bennett and Jeff Kinsey. It is a strategy that is used to locate the weakest link in an organisation. This link is then made stronger

PYROPHORIC

The name given to a substance that will self ignite at low air temperatures. These substances will ignite without the addition of a flame or ignition event.

PREPAYMENT PENALTY

A penalty imposed on the borrower for the complete settlement of the loan before the expected payoff date. It is means of compensation for the lender as the potential interest income is

PRIMACY EFFECT

The reliance of the interviewer on first impressions which is used to judge the interview.

PRINT MEDIA

The industry that is involved in printing and distributing media through publications such as magazines and newspapers.

PRIORITY BANKING

Long time customers of a financial institution are provided with priority banking. It includes advanced services such as payment of bills online, consultation on financial matters, free checking, etc. Nowadays, priority banking

PRIVATE LABEL RIGHTS

A buyer’s right that allows the modification of the product according to their needs. For example, a business owner through the purchase of the private label rights is able to modify and

PROBABILISTIC INVENTORY CONTROL

A method that has its basis in the assumption of a relatively constant demand over time for inventory items. As such, the probability distribution of the demand is determinable, especially during the

PRODUCT

1. A product that is its finished stage, usually at the end of a production cycle. It is usually what a user needs or wants. 2.Law: A good distributed commercially that is

PROJECT APPRAISAL

Major theoritical evaluation of the economic, enviromental, financial, social, techinical and any other aspect in comparing with the projected objective.

PROMISE TO PAY

An agreement between two parties, the lender and the borrower, in which the lender promises to pay a set amount of money on a set date. Usually made if the lender is

PROPERTY DAMAGE

The physical and tangible damage or destruction that is done to property. It can be damage dome by people such as broken windows or it can be classed as acts of God

PROPRIETARY INTEREST

The owner of a property, whether tangible or intangible, has certain rights that are accorded to them. This is a right to an advantage, share or interest in the property or an

PROTECTED RISK

This is any property that is in the area serviced by a certain fire department. Each department will cover a different area and each risk in that particular area is protected by

PROVIDER

This is a person or company who will give goods and /or services to another person. The company is a provider to the customer or buyer of its goods and or services.

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