The Law Dictionary

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

Category: V

VIBRATION

Regular oscillation or periodic motion that will repeat after a definite interval.

VIRTUAL BANK

Financial institution based on he internet with no premises.

VISUAL COMMUNICATION

1. Real estate. Property’s net worth perceived by the owner. 2. Expression of information and ideas using visual aids.

VOICEOVER

Phone system feature allowing the operator to get a message to an employee on the phone.

VOTING RIGHT

Delegable right of a common share holder to vote in decision making processes and to select board members.

VALUATION DATE

Day that an estimator’s value will apply. Also known as appraisal date.

VALUE MANAGEMENT

Applying value analysis to improve effectiveness and efficiency of business.

VALUE-IN-USE

Accounting. An assets net worth calculated by an estimation of future value and value of disposal if it becomes impaired.

VENDING MACHINE

Electronic machine that dispenses products when money is put it into it.

VESTED COMMISSIONS

Agent commissions even if he no longer works for the insurer that come from renewal of business.

VICARIOUS LIABILITY

Obligation rising from a parties relationship with each other. Also known as vicarious responsibility.

VIRTUAL CIRCUIT

Logical connection or path of a receiving and transmitting device in a packet switched network.

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