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

Category: R

REVERSE DISTRIBUTION

Reverse logistics. The practice of collecting any outdated, damaged or goods that are unsold and returning them to the manufacturere or supplier.

REVERSIONARY TRUST

An irrevocable trust in the USA that is revocable after the trustors death or after a set time period has passed.

RIGHT OF FIRST REFUSAL

A right in a contract where the seller must give the other party the chance to match the offer that a third party has given to buy a certain asset.

RISK AVOIDANCE

A risk management technique taking steps to remove a hazard, engage in different activities or to end a certain exposure to risk.

RISK PROPENSITY

The degree an entity is prepared to take a chance with the risk of a loss.

ROLE PLAYING

The art of acting out a role other than our own in a training situation.

ROOT CAUSE

The main cause for faults or failures even if more causes are evident that began with the initial cause.

ROUTE OF ENTRY

The way a substance is able to enter the body such as ingestion (mouth), inhalation (lungs) or absorption (cintact).

RUSTING

The result of electro chemical corrosion to iron and steel. It requires water and oxygen and is a form of oxidation.

REGRESSION ANALYSIS (RA)

Statistical approach to forecasting conversion in a dependent variable based on change in one or more independent variables. Also known also as curve fitting or line fitting.

RATE OF NATURAL INCREASE/DECREASE

This rate is calculated by using the birth rate minus the death rate. It is a rate that is equivalent to the population increase or decrease without migration being factored in.

RATIONALE

A discussion of the reasons behind how a decision was made. Rationales document why the choice was made, how it was developed, what assumptions were used and why the conclusion is realistic.

READERSHIP

The total number of subscribers and other readers of any publication.

REASSURED

This term refers to a company that obtains reinsurance coverage

RECENSION

This term refers to the revision of already published work due to the discovery of new information. See also: Redaction

RECOMMENDED MAXIMUM CONTAINMENT LEVEL

Non-enforceable principle that indicates the greatest level of a contaminant in drinking water at which no known or anticipated adverse health effects would occur in humans and pets.

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