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

Category: P

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.

PUBLIC ACCOUNTS COMMITTEE (PAC)

A committe of considerable power who examines the auditors reports to make sure that any government funding to the various departments of government is used in the correct manner and according to

PUBLIC INTEREST

The welfare of the public as compared to the welfare of a private individual or company. All of society has a stake in this interest and the government recognises the promotion of

PUBLIC PROSECUTOR

A District Attorney in the US and a Director of Public Prosecutions (DPP) in the United Kingdom. It is an attorney appointed by the government to pursue all criminal acts. The DPP

PUBLICIZE

A news worthy item or story is made available through mass media to the public. Often stories that are meant to be a secret is often made available to the public. This

PURE ANNUITY

This is an annuity that makes periodic payments to the annuant and will only stop with the annuants death. The premiums are deemed to be fully earnt and paid. These are deemed

PURPOSEFUL TRUST

This is a type of trust that is for a purpose and objective that is specified in the trust papers. This under certain laws in certain places. This is under the jurisdiction

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 LIMITED COMPANY

A company whose shareholders are offered limited liability. However, ownership restrictions are strictly in place to avoid the hostile takeover attempt by any association or bylaws. The restrictions include (1) The sale

PROBABILISTIC MODEL

A tool for statistical analysis that is used estimate the chance that an event might re-occur, based on the analysis of past data.

PROBLEM SOLVING

The derivation of a solution by working through the details that are entailed in the problem. The employment of systematic or mathematical operations to derive the solution are used in problem and

PRODUCT BENEFITS ADVERTISING

A promotional campaign that aims to showcase the satisfaction guaranteed by a product according to the needs of the target customer.

PROFESSIONAL PARTNERSHIP

Amalgation of two different professional (normally from different professional backgrounds) to offer services to public.

PROJECT CYCLE

Seven major milestones through which each successful project undergoes, 1. Identification of pragmatic project notion. 2. transformation of the notion into appraisal 3. evaluation of different aspects of the project 4. Presentation:

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