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

Category: P

PODCAST

Any digital recording, such as news, music or media that can be run on your computer or on a media player such as the iPod. Podcasts are usually downloaded through the internet.

POINT SIZE

The distance between the highest and the lowest point of a certain type of print. Commonly used in commercial printing in the UK and the USA.

POLLUTER-PAYS PRINCIPLE

A principle that states that the costs incurred due to pollution control, prevention and treatment should be paid by the entity which is responsible for causing the pollution in the first place.

PONZI SCHEME

A scam which is usually carried out on the general public, by making returns of high promises in a shorter time period. It is primarily based upon paying off the early investors

PORTFOLIO CRITERIA

A criterion used to measure the developmental efforts of a firm for its products.

POSITIVE CASH FLOW

A normal position where the cash that flows into the company is higher than the cash amount that flows out, during the same period of time. A positive cash flow will not

POSTING

The transfer of debits and credits from the journals to a company’s ledgers is called posting.

PRACTICABLE

Any idea or project which can be brought to fruition or reality without any unreasonable demands.

PRECATORY WORDS

Words that are used to depict a certain desire or recommendation without actually binding the listener with them. For instance, ‘it is my desire and/or wish to?’

PREEMPTIVE PRICING

A method of selling something at lower rates, in order to ward off the competition within any market.

PREMIUM PRICING

A technique in which brands try to sell their products at a higher price compared to the general market, in order to create a brand image.

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

PAGES PER MINUTE (PPM)

Pages per minute, or PPM, is a rate at which a printer can print out standard A4 sized pages in a minute. The rate is provided usually on the printer’s specification, and

PALLETIZATION

A common technique that is used to store or transport goods that have been placed upon a pallet, and then ship it as a unit load. It is easy because it allows

PARENS PATRIAE

i) It is the right held by the court to take a reasonable decision on the part of a person who is unable to make one for himself. Usually, such people suffer

PART NUMBER

A unique code given to any part that can be used to identify that ‘part’ without referring to any manual or list. The manufacturing date of the item, model number, etc. might

PASSIVATION

Passivation is a process in which any substnace is rendered inert, or inactive through a chemical reaction. No more reactions can take place with a passivated substance.

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