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

Category: U

UNFAIR CONTRACT TERM

Clause in a contract limiting rights of a counter party, consumer, who is protected under contract law that is unreasonable or void.

UNIFORM COMMERCIAL CODE (UCC)

1. International trade. Document standards as defined by International Chamber of Commerce, ICC, in 1933 and since revised.2. In the USA. Laws that govern commercial transactions.

UNILATERAL CHANGE

Change made in contract provisions with no consent from all parties involved.

UNLEVERED FREE CASH FLOW

A firm’s cash flow shown to investor’s as a measure of performance that doesn’t take into account interest payments on debts outstanding.

UNSOUGHT GOOD

goods and services that are bought by necessity and not want.

USER INTERFACE

Visual portion of the computer application that the user uses to interact with software. See interface.

UNFAIR DISMISSAL

Termination in a contract for employment that is unfair or inadmissible.

UNIFORM COSTING

Using the same approach to production and operation costing by several businesses.

UNILATERAL CONTRACT

1. Contract where one party makes another party an offer to perform an act and assent is promised by performing the act. 2. Contract where one party has an enforceable obligation.

UNIT LOAD

1. One standard shipping container of goods. 2. Alternate term for unitized load.

UNITED STATES

Made up of the 50 federated states, American Samoa, District of Columbia, Johnston Island, Guam, Wake and Midway Islands, Northern Marianas and US Virgin Islands.

UNREALIZED

Transaction that has happened but not been paid for as yet.

UNSTABLE

Tending to, or susceptible to decomposition or a physical or chemical unwanted change.

UPSCALE

Something made to appeal to well to do classes with a price tag and design to match.

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