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

Category: R

RATABLE

1. The quality of an object that allows it to be rated or appriased under certain criteria. 2. A proportionate ratio of the whole. 3. A taxable quantity.

RACK JOBBERS

The person who works on behalf of the wholesaler by providing racks that will store the products. It is usually used for products like chips, lollies and other convenience foods. Several rack

RAIN CHECK

A slip or chit that is given when an item is on sale and is unavailable for any reason. Gthe peron is able to buy the item when supplies are restocked. The

RATABLE VALUE

The value of a property on the real estate market. This value is based on the annual rent received for the property. A ratable value will be assessed to determine if any

RACK RATE

The rate that is charged for a hotel room or accommodation when a person just walks in off the street. It is usually more expensive than the rates that are charged by

RAINBOW OPTION

Something that has more than one underlying option associated with it. These options are called colors. Hence the term rainbow option. These factors cannot be combined as one factor.

RACK RENT

In the US it is applied to a rent that is excessively high. In the UK it applies to an amount that is not less than 2/3s of the rent a premises

RALLY

This term is used to describe the increase in a commodity. This increase will occur after a fall or decline in the value of a product. Often a term that is heard

RACKET

An activity that is criminal and people subjected to a racket are usually deceived of their money. Methods used to get money or goods includes bribery, extortion and intimidation. See, What Is

RAMEN PROFITABLE

A term that is used to describe a person or company that is just breaking even by covering all living expenses. It indicates that a company is making more money that it

RAMP UP

The gradual increase in energy, manpower or quantities. Often when a production begins only a small quantity is produced. Over a period of time more and more is produced and moremoney is

RADIATION

1. The transmission of heat through space. It is aharmless form of radiation. 2. The ionising radiation that is emmitted by radio active particles. It is harmful to all living flesh and

RAMSEY PRICING

Named after Frank Ramsey, known as the elastic rule. This is a term used to imply that if the market increases the price will increase accordingly. People used to buying a product

RADICAL PROCESS IMPROVEMENT (RPI)

A method of reducing a process that may usually take months to happen, to make it happen in a much shorter period of time. An acceleration process that is sued in times

RANDOM

Events or data that acts ofm its own accord. It will show no recognised pattern or direction that can be plotted for the anticipation of future actions. A random event or action

RADIO FREQUENCY IDENTIFICATION (RFID)

The identifying act of parcels, packages and other items with the use of transponders that emit a radio signal. It can be detected from a large distance without actually seeing the object.

RANDOM VARIATION

The variability that is contained within a process that cannot be determined. These fluctuations and variations are caused by erratic and irregular actions that are the result of random chance. These random

RADIO FREQUENCY INTERFERENCE (RFI)

The noise that is heard when one radio wave is inteferred with by another radio wave of the same length. An electronic buzz that is heard when tuning into radio stations.

RANGE CHART (R CHART)

A chart that is used to control the s tability of the variables of a product. A product will be stable over a set range of variables and it will tracked during

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