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

Category: R

RENTAL PROPERTY

A type of property that derives more than 80% of its revenue from dwelling units. Residential rental property uses the 27.5 year modified accelerated cost recovery system (MACRS) schedule for depreciation.

REPOSITIONING

The changing of a brands status or position among the competing brands. See positioning.

RESEARCH

Basic or applied method of increasing the knowledge by finding new information.

RESOURCE DRIVEN

The time that is taken to complete a project relying on time taken to group all resources and not the actual time that is available.

RESTOCKING FEE

The amount that is charged by the seller for the acceptance of ay merchandise that is returned for a refund.

RETIREMENT

1. The removal of any asset after its sale. 2. Forced or voluntary withdrawal from the job market. 3. Withdrawing a document from circulation. 4. The discharge or satisfaction of an obligation.

REUTERS

A leading company in news and information reporting arpound the world.

REVERSE FULFILLMENT

A method used by companies to return defective goods back to the producer or manufacturer.

REVOCABLE TRUST

A trust that allows the grantor to revoke and reclaim any property placed in it.

RIGHTSIZING

The process where a corporation reorganises or restructures the business by means of cutting costs, rducing the work force or altering upper level management.

RISK CLASSIFICATION

The grouping of risks by their likely impact or estimated costs, occurence and any measures required to counter them.

RISK LIMIT

The amount of risk a person from a firm or bank is allowed to expose his employer to.

RISK RETENTION GROUPS

Liablity insurance held by the policy holders.All policy holders will be in the same business and exposed to the same level of risks.

RIVEST SHAMI ADLEMAN (RSA) METHOD

A key encryption used in PGP or pretty good privacy situations and secure electronic commerce, SEC and is part of ISO and ANSI standards of encryption.

ROLLBACK

1. General. The dismantling of current policies and methods to make way for a new or altered approach.2. GATT.The r emoving of all restrictions to trade that are no longer consistent with

ROUTER

A software or hardware device capable of directing traffic of data between networks. See also hub, gateway, bridge.

RUN ON THE BANK

Where a number of the banks customers all withdraw their money fearing that the institution may become insolvent shortly.

RATE AND TERM REFINANCE

To renegotiate the rate or term of a mortgage without changing the amount of said mortgage. This is a common way for borrowers to lock in a lower interest rate.

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