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

Category: U

UNSTRUCTURED INTERVIEW

An interview without any set format or formula for questions asked. Also known as a non-directive interview.

UPSIDE

Potential of gain from ideal, transaction or situation. Opposite of downside.

URBANIZATION

Increase of population in cities versus the rural areas.

UTILITARIANISM

Ethical philosophy where happiness of most people is thought to be the greater good.

UNFAIR TRADE PRACTICE

In US law an act, practice or policy of a foreign government violate trade agreements, is unjust or unreasonable and is inconsistent with section 301 of WTO.

UNIT OF ISSUE

Measurement physically of quantity that an item is stored and issued as.

UNITRUST

Trust where certain percentage of the yearly assessed market value is paid to the beneficiary of the trust.

UNLISTED NUMBER

Phone number that is not found in a directory or by calling enquiries.

UNREASONABLE RISK

Adverse effect to people and the environment by a biocide and considering the economic, medical, environmental costs.

UNSTUFFING OF CONTAINER

Process where transport containers are unsealed and all goods removed. Also known as devanning, stripping.

UPSIDE POTENTIAL

Difference in current trading price of a security and the level it is likely to rise up to.

USA PATRIOT ACT

Act passed after September 11 2001 giving law enforcement agencies tool to prevent acts of terror.

UTILITIES EXPENSE

Cost of using utilities like water, electricity. Found on financial statements.

ULTRASOUND

Sound waves that have a frequency above 20,000Hz and cannot be heard by humans.

UNAUDITED OPINION

Certified Public Accountant’s decision not involved in preparing a financial statement is called in for a unbiased opinion.

UNDERBID

Bidding at a lower price that that of other bidders.

UNDERWATER LOAN

Loan under book value due to its (1) not performing, (2) low interest rate below market rate, (3) collateral market value decreases to less than loan balance outstanding or (4) collateral is

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