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

Category: U

UNCONSCIONABILITY

Degree of unreasonableness and unfairness of a contract or deal prompting a court to modify or nullify it.

UNDERPERFORM

Analyst rate of a security that reflects opinion that its will stay behind the market.

UNDIVIDED ACCOUNT

Underwriting syndicate where each member has dual liability. See divided account.

ULTRA VIRES

A body exercising an invalid excess or power of authority.

UNDERRUN

Situation where an item’s cost is below the projected cost.

UNDIVIDED INTEREST

Ownership claim of property or assets commonly owned with restricted claims but no one has an exclusive claim.

UNDER CAPITALIZATION

Situation where businesses don’t have enough funds from stock holders for the size of operations.

UNDERSIGNED

Person’s name appearing at the end of the document, subscriber.

UNEARNED INCOME

1. Accounting. Income received before a service is provided or a good is sold.2. Taxation. Income from means not arising from a person’s efforts.

ULTRA WIDE BAND (UWB)

Wireless technology like Bluetooth able to transmit large bites of data over a short distance and over a wide band frequency and spectrum.

UNDER RESERVE

Situation where a bank will credit amount of a draft or cheque to a depositor’s account before it is cleared.

UNDERSTAY

Hotel guest checking out earlier than the scheduled date of departure.

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