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

Category: P

PENT-UP-DEMAND

A common term that is used to define a certain portion of the consumer behavior in a certain market. Commonly used by economists to determine the cyclical economy trends, as well as

PERCENTAGE OF COMPLETION METHOD

A method used for recognizing the revenue gained on any contract that has been completed over more than a single period of accounting. This method is appropriate when the total cost of

PERFECTION

Validating any legal document or interest by properly executing it and then filing it with the correct public authority.

PERIODIC SYSTEM OF INVENTORY

When a company has some stocks which are up for sale, the company will show them on its balance sheet. These stocks will be shown on the financial statement once a sale

PERMANENT FINANCING

A mortgage loan or a bond that has been issued with a maturity period that extends between 15 to 30 years.

PERSISTENCE

The amount of time that a substance can persist in any environment after being introduced in to a new surrounding.

PERVERSE INCENTIVE

Anything that incites, or determines somebody to take action in order to receive that incentive, usually resulting in damaging circumstances afterwards.

PHANTOM PROFIT

When a cash transaction has been written in the books, while no cash was ever deposited for it.

PHOSPHATES

Compounds that are usually inorganic, and contain a lot of phosphorus. Common applications of phosphate include detergents and fertilizers. Phosphates can harm the water, as it leads to excessive growth of algae.

PHYSIOLOGICAL

Something that is related to the human body, or any living organism for that matter.

PIGGYBACK MARKETING

An initial marketing strategy that is pretty low costing, since it involves two, or more than two firms, who will market each other’s products in the right markets for maximum publicity.

PISCAN DOCUMENT

The Piscan document states that all debits must be equal to credits.

PLANOGRAM

An drawing created by shopkeepers in order to get a better idea of how to effectively manage space on shelves.

PLEA IN BAR

An answer given by the defendant which completely defeats all actions/ charges levied by the plaintiff.

POINT OF CONTACT

A perons, or any platfororm from whom people can gain guidance, and he can be the coordinator.

POKA YOKE

An approach adopted by the Japanese in order to make their manufacturing processes free of any manufacturing defaults, and to provide exceptional customer service. Visual signals are employed in order to determine

POPUP AD

A new browser window that pops up when the user clicks on a new link. Generally an attempt at spam. Can be easily closed.

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