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

Category: P

PROJECT NOTE

US Department of Housing and Urban Development backed short term debt securities used to finance construction of partially state-funded residential complexes and federal constuctions. There sole purpose is the aforementioned one and

PROMOTIONAL MESSAGE

The message that the company is conveying about its products or services. The message will be repeated across all types of media for advertising and could include a slogan or saying that

PROPORTIONAL REPRESENTATION (PR)

The voting scheme which ensures that each party or group is represented in the same proportion that they appear to be in the whole population.

PROPRIETORSHIP

1. Thisoccurs when a businesses or company is owned by one person or one family. It is not owned by several people or a group of companies. 2. Proprietorship can also be

PROTECTIVE TRUST

A trust created that will protect the assets of the trustor in their lifetime from the effect of the trustor declaring bankruptcy. The trustee is responsible for any interest earned by the

PRUDENCE CONCEPT

A principle of accounting that requires you to rcord every liability and expense as soon as it occurs but you only record the results when they are gained or at least assured

PUBLIC EQUITY

An investment in real estate that has been taken over by REITS or another real estate company that operates by trading publicly.

PUBLIC LIABILITY INSURANCE

An insurance taken out by an individual that covers them for any legal action against them. It is for injury to damage to any property that ends up in a court and

PUBLIC SWITCHED TELEPHONE NETWORK (PSTN)

This is a telephone service that provides a dial tone and communications between two parties. Any digital or analog number can be called by any party with a hand set or telephone.

PULL DATE

The date after which a product cannot be sold. The public refer to it as the use by date after which the seller must remove the product from the sheves for sale.

PURE PRIVATE GOOD

An economic term related to goods or services that does not generate any external entities. The producer or consumer of the goods or service will bear all of the costs and receive

PUSH-PULL STRATEGY

The method by which a product leaves a company and is then sold to a customer. The client will buy or pull the product and the business provides the push that will

PAGE PROOF

A page proof is a final sample of the page which is shown on the computer screen, providing proof of the final document. It is helpful because it allows the user to

PALISADES WATER INDEX

An index which is used to monitor the performance of companies and firms which are currently present in the global water industry. It was created back in 2003, with the aim of

PAPERBOARD

A paper term is a simple term (not standardized) term that is supposed ot denote commonly recycled paper. It is used primarily as material for packaging.

PARASITE

An organism which obtains its nutrition by attaching itself to another living organism, known as a host. It survives on the host, usually causing harm or rendering diseases. A few of the

PARSING

Fragmenting a block of data by pertaining to a set of rules, making it much easy to interpret, manage and transmit through a computer.

PASSAGE OF RISK

During a transaction, the passage of risk is a phase in which the risk of damage or loss passes from the seller of the product to the buyer. For different products/ items,

PASSWORD AUTHENTICATION PROTOCOL (PAP)

A tool which is designed to verify whether the password entered in to a computer is valid or not. It does, however, have integrity flaws, and hence, the passwords can be stolen

PATHOGENS

Microorganisms which are likely to cause diseases. Examples include viruses, fungi or bacteria. Usually found in chemical waste, exhaust water, etc.

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