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

Category: V

VALUE RULE

a rule in building contracts where an owner is entitled to the difference in value between what is built and what should have been built.

VERBAL CONTRACT

a contract that is spoken and is not written down. See oral contract; verbal agreement.

VERACITY

a term used to describe the truthfulness or the honesty of a person.

VENEREAL DISEASE

the name that is given to an infection that is transmitted by sexual contact.

VIEW OF PREMISES

a situation where the jury members leave court to see where an accident or crim occurred.

VITAL STATISTICS

the information that is kept on births, deaths. Marriages, divorces, longevity etc that is kept by public authorities for determining public utilities etc.

VALUE RECEIVED

A term often used in a promissory note meaning that there has been a lawful consideration given for the note.

VIOLATION OF PRIVACY

the interference of a person’s right to privacy by various means such as showing photos in public.

VERDICT DIRECTED

the name that is given to the verdict that is directed by the judge to the jury.

VOLSTEAD ACT

the name of the 18th Amendment that prohibits the general sale of liquor and was repealed in 1933.

VALIDATION

1. Assessing an action to determine it is complete, correct, implemented and delivering the correct outcome.2. Assessment of the degree that an instrument will measure accurately; technique opt test used to predict

VALUE AT RISK (VAR)

Largest loss to be possibly suffered to a portfolio over a period of time, say 10 days of a given level of probability.

VALUE LINE COMPOSITE INDEX

Index of 1700 stocks traded on NASDAQ, AMEX and NYSE stock markets. Stocks are raked on projected price performance and volatility of behavior.

VALUED POLICY LAW

Law stating the insurer has to pay face value of policies on total loss of a building.

VARIABLE RATE DEMAND OBLIGATION (VRDO)

Debt security with floating interest rate adjusted regularly and redeemed when a rate changes. Also known as low floater, variable rate demand note, variable rate demand bond.

VENTURE CAPITAL FIRM

Private, semi-government or government company providing growth equity or start-up capital for venture showing promise of higher returns than market rates of interest.

VIBRATION

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

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