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

Category: P

PAYMENT PLAN

A detailed plan which depicts the solution for paying off all outstanding debts that the company, or individual owes. Takes in to account the earning of the borrower and then sets up

PECKING ORDER THEORY

Developed by Nicolas Majluf and Steward C. Myers, the Pecking Order Theory classifies people, birds, classes and nations in different categories, where financing sources are categorized.

PERCENTAGE

Any fraction expressed with 100 as the fixed denominator.

PERFECTED SECURITY INTEREST

Any secure interest in an asset, which cannot be claimed by any other party. A lien might be registered against it. Known as perfected lien.

PERIODIC RATE

Any charge that is levied at a fixed interval. Commonly, daily or monthly charges.

PERMANENT EMPLOYMENT

Employment done on a regular, continuing basis, rather than hiring on a contractual basis.

PERMISSIBLE EXPOSURE LIMIT (PEL)

The daily limit of exposure to any substance to humans, standardized in an 8-our shift. The Permissible Exposure Limit was set up by OSHA.

PERSONAL INJURY PROTECTION

A specific term that is used in reference to benefits provided in certain states, such as those which are needed for vehicle insurance. Such a benefit commonly spans death by accident, or

PERSPECTIVE VIEW

A rendition that is made to depict the outer view of any object or design, without having to remove any parts. Thanks to the sectional views, parts that would usually not be

PETTY OFFENSE

A small violation of the law. Usually, the punishment is less than six months as per the court of law.

PHISHING

An act of illegally gaining access to a computer, stealing private information and then utilizing that information for harmful activities. Phishing is usually popular through various email frauds and internet related activities.

PHYSICAL SAFEGUARD

A safety measure that is taken in order to prevent oneself from harm/ injury that might be caused due to the surroundings. For instance, placing a burglar alarm is a physical safeguard

PIGGYBACK COMMERCIAL

A couple of commercials, which are aired within a single time slot, so as to market an advertiser’s products.

PIPELINE STOCK

Stock that has departed the firm’s warehouse, but is yet to be sold to the customers, and hence, is in the ‘distribution pipeline’.

PLANNING CONTINUUM

A series of different steps and decisions that are taken in order to identify goals, objectives and needs, and then plan a way to achieve and fulfill those needs.

PLAYBACK STABILITY

The amount of years through which data can be recovered on any magnetic disk or tape, without any errors.

POINT AND FIGURE (P&F) CHART

A chart which is made to show the fluctuations in bond prices, prices of commodities, stocks and the like. Time is ignored in this chart. The primary focus lies on changes. Hence,

POISSON DISTRIBUTION

A probability distribution method which expresses the probability of events per unit time. In contrast to normal distribution, Poisson is asymmetrical, tilting towards the left side of the median. It is primarily

POLLUTION PREVENTION

Methods of identifying, decreasing or eliminating activities that are responsible for causing pollution within the environment.

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