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

Category: U

UNITIZATION

1. Combination of cartons, boxes, pails, etc., in one load ready for transport with ease of handling and identification. See containerization. 2. Converting an investment company to a unit trust.

UNLIMITED WANTS

Part of human nature where we want many things but are unable to afford them all.

UPSELLING

Selling strategy where seller will provide opportunities to buy other products and services just to make a bigger sale.

UNIFORM FORMS

Standard form used by insurers that are worded in a set way.

UNIT OF ACCOUNT

unit where an items value is compared and accounted. Money’s primary function.

UNITIZED LOAD

Load of many articles bound together for transport and handling as one unit.

UNREALIZED PROFIT/LOSS

Paper profit or loss not becoming actual until the asset is sold, disposed of or redeemed. Also known as unrealized gain/loss.

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.

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