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

Category: P

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.

PAYLOAD

The revenue while producing loan is known as the payload.

PCE DEFLATOR

An indicator used in the United States, for calculating the increase in average pricing for all domestic personal consumption. It is taken from the largest component of the GDP.

PENAL CODE

A compiled list that describes and defines all of the offenses, as well as the law which ca nbe applied and the punishments that can be given.

PERCEIVED QUALITY

The opinion of a consumer as to the quality of a certain product. It does not determine the actual quality of the product, just the customer’s opinion of it.

PERFECT COMPETITION

An economic term for a market in which there are lots f buyers and sellers, depicting little individual control over the prices. Other characteristics include the fact that all buyers and sellers

PERIODIC AVERAGE

A standard method used to calculate inventory costs, by making use of an average.

PERKS

Bonuses, or extra incentives that are given to employees exclusive of their salaries. For instance, an employee gets a credit card and a car from the company, as a ‘perk’.

PERMANENT RESIDENT

Any person who possesses his own permanent residence, and resides there is a permanent resident.

PERSONAL COMMUNICATIONS NETWORK (PCN)

A wireless telephone system that is set with the help of affordable receivers, as well as lowly powered antennas. This is smaller than a city wide network, in which the rates are

PERSONALIZED INSTRUCTION

An easily customizable training program, which has pretty easy modules that can be customized as per the requirements of the individual taking the program.

PETROCHEMICAL

A chemical produced from either the cracking or any type of processing of petroleum oil, or natural gas/ methane. Examples include benzene, ethane, ethylene, etc.

PHILADELPHIA FEDERAL INDEX

An index used to estimate the growth in any business, which is usually determined by analyzing several surveys conducted by participants on a voluntary basis. It is also known as the Business

PHYSICAL AND CHEMICAL TREATMENT

A method that is used in large scale water treatment plants. The physical process includes filtration and air stripping, while chemical cleaning includes coagulation, ozonization and the induction of chlorine.

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