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

Category: P

PERIOD OF RESTORATION

The time it takes for a business tore store damages to property, or any asset. The period of restoration begins on the date the loss is recorded and is ended on the

PERISHABLE

Any item which has the ability to lose its value if it is not properly stored, or used up within a given period.

PERMANENT RECORD

A document which retains its legal, administrative and historical value without any timeframe.

PERSONAL ASSETS

Any articles that possess value, such as real estate, cash, and jewelry, etc.

PERSONAL USE PROPERTY

Any property that can be utilized for personal use. Examples include clothing, vehicles, furniture, etc.

PETER DRUCKER

A management consultant, as well as writer, who is known to have come up with the concept of management in the modern era, also known as the ‘Father of Modern Management’. He

PHENOLS

An organic compound, which is produced as a byproduct of the refinement of petroleum, dyeing of textiles, manufacturing of resins, etc. Phenol can be toxic if produced in a higher concentration.

PHOTOSYNTHESIS

A naturally induced process by which plants make their own food. The presence of oxygen and sunlight is very important for this process to take place. Photosynthesis is the reason for the

PICTOGRAPH

Data that is presented through the use of pictures, symbols, etc. as well as common graphing features, such as points, lines and bars, etc. Commonly referred to as a pictogram too.

PILFERAGE

Pilferage means the stealing of inventory, or shoplifting. Pilferage also means insurance provided for marine goods, however not necessarily provided by the standard policies.

PLACEMENT

Placement means to sell securitie toany investor, such as a bank or any foundation.

PLASTIC MONEY

A term commonly associated with credit cards, debit cards, NFC technology, etc.

PLUG IN

A small program made to add new features to an application that has already been created by another party. For instance, there are lots of third party plugins available for Adobe Photoshop.

POINT OF SALE METHOD

A method used in accounting in which the revenue is recognized as soon as the title is transferred to the buyer.

POLL

A survey conducted in order to determine the opinion of the public, and how it feels regarding a certain event/ person, etc.

POLYPROPYLENE (PP)

A plastic that has a very smooth surface, and can be cracked easily, but is resistant to scatches. It is commonly used for the manufacture of battery cases, straws and other items

PORTABILITY

The degree to which any software program can be executed on different software or hardware platforms. Generally, software that has been written with Java as the primary programming language has the ability

POSITION RISK

The risk involved with a certain trading position, commonly incurred due to the changes in price.

POSTDATED CHECK

A check whose date lies within the near future. A post dated check can be cashed in on the future date.

POTENTIATION

The coupled action produced by two chemicals; usually greater than the amount of action produced individually.

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