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

Category: P

PARALLEL INTERFACE

Any interface that allows the transfer of data between two devices, without having any impact upon the performance of either. Commonly, computer printers make use of parallel interfaces. Several parallel wires are

PARITY

Maintaining equality between two entities.

PARTY IN INTEREST

Any entity/ party that has a favorable interest in another entity, for instance, employers, fiduciaries or unions.

PASSIVE MEASURES

Measures taken to limit the impact of anything that might have been taken. These are usually taken so as to reduce the effect of any event that happened.

PATERNALISM

A style of leadership in which any male leader makes use of his superlative powers to maintain control. Or, it could also mean acting similarly to a father, to protect children from

PAY PER CLICK (PPC)

A model used commonly by search engines, in which advertisers will only have to pay if they get clicks from other sources after users click on them.

PAYER BANK

Known as a payor bank, any bank which can draw or accept a bill of exchange is a payer bank.

PAYROLL

The total amount of money that a company needs to pay its employees. Also in the form of a paysheet, which calculates all deductions and net payments.

PER CAPITA INCOME

The total income of the country, divided by the total popluation of the country. It is not the average income but provides a clear indicator of the living standards of the country.

PERCENTILE

Any number that is used to determine the percentage position with a number of data samples. For instance, if the performance of an employee is at the 57th percentile, then his performance

PERILS OF THE SEA

Dangers that might be associated with sea travel. Usually involves high winds, two ships colliding, hitting a submerged object, etc.

PERIPHERAL DEVICE

Any device that can be connected to the computer for input, output or communication functions. Examples include printer, scanner, keyboard, mouse, etc.

PERMANENT OWNERS’ EQUITY ACCOUNT

The capital stock account, as well as the retained profit account. They are known as being ‘permanent’ as they cannot be closed once the accounting period has ended.

PERSON SPECIFICATION

Usually a set of skills that must be possessed by any person to become eligible for any job, which requires those skills.

PESTICIDE RESIDUE

The substance that is left behind after pesticide application. The WHO states that it can include specified derivatives, such as metabolites and impurities which are known to have toxicological significance.

PHASED INTRODUCTION

A strategy used for implementation purposes, in which a certain product, policy, change or process is introduced slowly, replacing the older processes. Complete replacement does not take place immediately.

PHOTODEGRADABLE

Any substance/ material which can be broken down in to its constituent forms, due to the reaction that is caused when it comes in to contact with the UV rays of sunlight.

PICKETING

Picketing is the name given to the industrial action usually taken by workers of a trade union, known as pickets, who assemble in front of the company, or the home of the

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