The Law Dictionary

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

Category: R

RESERVE BANKS

In the Federal Reserve System that was designed by Congress to regulate and supervise the financial institutions. US has 12 regional Reserve Banks in Boston, New York, Cleveland, Philadelphia, Richmond, Chicago, Atlanta,

RESIDENTIAL SECTOR

The unoccupied or occupied, rented, owned, one or multi-family houses, mobile homes that does not include institutional housing like schools, barracks for example.

RESOLUTION TRUST CORPORATION (RTC)

A congressional corporation that was established for the sole purpose to contain, manage and sell a failed financial institution in ordr to recover the taxpayer’s expenses.

RESPONSE

1. A reaction to an event or situation aimed at controlling it.2. Behaviour resulting from stimuli. 3. Answers to the plaintiff’s allegations.

RESTRUCTURING CHARGE

A fee is needed to be paid when a compoany is restructured or goes through a change in the business operations.

RETENTION CLAUSE

Contratc provision allowing the customer to keep some of the contract price until all requirements of the contract are met.

RETIREMENT PLANNER

A person or agent who plans for others retirement funds and helps people plan for .the future.

RETURN OF CASH VALUE

The provision in an insurance policy that states if the insured dies between certain dates, the policy a face value and the cash value on the date of the death of the

RETURNS

Any m erchandise that has been sold and is then returned to the place of purchase.

REVERSE EXCHANGE

The exchange of a property before the previuos property has been given up. Opposite of deferred exchange.

REVIEW COPY

A bound and printed copy of a book or work that is sent to reviewers before the official date of publication.

REWARD SYSTEM

The allocation of compensation and benefits to employees that follow the standards, rules and procedures established.

RIGHT OF SILENCE

The right that is given to a person, who by speaking or answering may incriminate himself in the eyes of the law.

RIPPLE EFFECT

An effect that is indirect but radiates out from the initial effect.

RISK DIVERSIFICATION

The allocation of risk in proportion to all the parties of a contract. Also known as risk allocation.

RISK OF LOSS

The chance of bearing the costs that are associated with destruction, damage or the inability of locating goods, documents and other property.

RISK VARIABLE

An element in a situation that a change in its state can cause a change in degree of risk exposure.

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