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

Category: P

PLUS

An increase on the balance sheet due to positive income.

POINT OF SALE TERMINAL

An electronic device that comes in handy when retail payments have to be made. The POS Terminal can be charged throuhg the bank account, debit cards and other msart cards.

POLLUTANT PATHWAYS

A channel through which pollutants within a building might be excreted out, such as waterways, etc.

POLYSTYRENE (PS)

A plastic that has a very smooth surface, and breaks easily when external force is applied on it.

PORTAL

Any website that acts as an opening to a certain topic of interest or industry. Portals generally include four services, email services, customized informational content for the user as well as links

POSITIONING STATEMENT

An express statement which is generally written in order to give a clear outline of the goals that are to be achieved through a positioning strategy. The statement defines how a firm

POSTERIOR PROBABILITY

The amount of chance of an occurring event, which generally changes with the happening of new events. The posterior probabilty is commonly applied in finance in order to predict the fall or

POUR POINT

The lowest temperature at which any liquid will remain in its liquid form.

PRE-BID SHOPPING

Negotiations and discussions carried out between the contractor and the client, before the tender has been awarded. Generally done in order to get a lower price rate.

PREFERRED POSITION RATE

The rate at which a publication would alow a client to place an ad in its ‘preferred position’.

P.S. 58 CHARGES

The P.S. 58 charges are generally calculated by the IRS, through a table that is supposed to show the cost of pure death protection. There are several plans under which the economic

PAGER

A pager is a small electronic device that was used for relaying small messages from one pager to another. Communication is generally one way. However, with the advent of mobile phones, pagers

PALLET

A pallet is a small tool, or a piece that helps in the mechanized movement of goods that are stacked. It is essentially required for forklift trucks. The pallet is made commonly

PAPERWORK

Documents that hold significant value, such as being an accompaniment for transactions for shipments.

PARASOL POLICY

Another name for the Difference in Conditions policy. Usually, it is a contract designed to isolate the available policy, which brings an increase in the insurance of property, which allows the property

PARSONAGE ALLOWANCE

Allowance provided by a religious constitution to a clergy they have ordained. Primarily, the parsonage allowance covers the fair market rental value of the house, as well as any maintenance costs that

PASSING OF TITLE

The conveyance, or transfer of any title of any good/ property from the seller to the buyer, usually resulting in the transfer of ownership as well.

PAST ANCHORING ERROR

A mistake on the part of an interviewer, or the anchor, which occurs when he/ she rates an employ using their past ratings as a base.

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