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

Category: U

UPPER CONTROL LIMIT

Top limit in quality control that is higher than the average on the control chart. Opposite of lower limit.

USER FRIENDLY

Any equipment or application that is designed to be easily understood and easy to use.

UNFAIR CONSUMER PRACTICE

Contravening provisions of the consumer protection act that imposes prohibitions, duties and restrictions on the seller.

UNIT COST

Expense used to produce one unit of a service or good often an average cost.

UNLEVERED BETA

Way to measure risk of the overall market with an unlevered company.

UPPER EXPLOSIVE LIMIT (UEL)

Highest concentration of a vapor or gas in air that is able to be ignited by an ignition source. Higher concentrations are ‘too rich’ to burn. Also known as upper flammable limit.

UPWARD COMPATIBILITY

Feature of new software and hardware letting it work with more powerful versions of software and hardware. See downward compatibility.

USER ID

User Identification Device. Unique name given to the user of a database etc.

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.

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