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

Category: P

PETROLEUM

A term used commonly for natural gas and crude oil. It is used primarily as fuel for automobiles, jets and a variety of other types of engines. Usually derived from oil fields.

PHYSICAL AND MOTOR ABILITY TESTS

A recruitment method used to test the physical skills of an individual. For instance, the movement speed of the arm, reaction times as well as the right use of fingers is tested.

PIECE PART

A single component that can be used after being assembled, or being disassembled too. Examples include transistor, relay, etc.

PINK SLIP PARTY

A party of different persons who are expecting to have their jobs terminated. The main purpose of a pink slip party is to provide people with a network to gain other jobs.

PLAIN LANGUAGE LAW

Any law that can be depicted through the use of simple language, making it much easier to understand.

PLATE

A finalized metal product, rolled flatly, having a breadth to a maximum of 48 inches, and exhibiting thickness less than 12 inches.

PNEUMATIC

Any hardware or mechanism, which is deisnged to be manipulated, powered and used through gas and air pressure.

POINT OF SERVICE PLAN

A mmethod which gives liberty to the patient to choose whether a participating indivuda or a non- participating one.

POLYVINYL CHLORIDE (PVC)

A flexible plastic that is generally used in the manufacture of pipes and hoses. Has a very smooth surface.

PORTFOLIO ANALYSIS

A careful examination of different elements of the products of a company, which are used to determine the best possible allocation of the resources of the company. Secondly, in terms of securities,

POVERTY

A term used to denote a condition in which people are unable to meet their basic necessities, due to lack of money or skill. There are two primary terms used to denote

PREBILLING

To officially lodge a payment request, even though the payment isn’t due until a date in the future. Generally, these are issued in order to get the payment and ensure that it

PREEMPTION RIGHT

A right/ advantage given out to the present stock holders, allowing them to gain the first option in case a house or property is being sold. It can also mean a right

PREFERRED PROVIDER ORGANIZATION (PPO)

A group of different personnel who are ready to provide treatment to members of the group for a preset fee. It is usually another option as compared to a HMO network, which

PACIFIC RIM

All of the countries that reside on the corner of the Pacific Ocean are known as countries along the ‘Pacific Rim’. It is an area that includes several countries such as North

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