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

Category: T

THREE-FOURTHS VALUE CLAUSE

Clause nearly obsolete where an insurer will not pay more three quarters of the cash value of an insured property.

TICKER

Term referring to a narrow strip of paper or display electronically where quotes are streamed along.

TIME SCALE

Measurement of time where a task or activity in scheduled.

TOLL FREE CALL

Long distance call paid for by the person being called. Free call in UK.

TOP KILL

Procedure to try to stop an oil well from leaking. Large amounts of drilling mud are pumped back into the well under high pressures.

TRACING

1. Accounting. Following a pike of information back to the document it originated in.2. Cost accounting. Assigning a cost to an activity based on cause and effect.

TRADING DOWN

Reducing number of features or product quality to bettered suit the selling price customers demand.

TRADITIONAL IRA

Tax qualified account for savings allowing the account holder to put aside money for retirement.

TRANSACTION ACCOUNT

Deposit account the holder can make transfers or withdrawals from to third parties.

TRANSPORT DOCUMENT

Air way bill, bill of lading, carrier’s certificate etc. Serving as evidence of acceptance and receipt of goods for carriage.

TRILLION

Number with 12 zeros after it. It is one thousand billions.

TRUSTED THIRD PARTY

Reputed, responsible and established fiduciary body all parties accept from an agreement, transaction or deal.

TWEENS

Term in marketing referring to the re-teens between the ages of 8 and 12.

TYPE 1 ERROR

Error where it is believed that a difference is observed or exists when there is no difference.

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