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

Category: Z

ZONING EXCEPTION

the special permission for a structure to be built where it contravenes the zoning laws.

ZONING COMMISSION

The people appointed by the town or city government that administer the zoning regulations and laws.

ZONING LAWS

These are the laws, rules, regulations and ordinances that govern the types of structures that can be built in various parts of the town, community or municipality.

ZERO INVENTORIES

Stage of ‘just in time inventory control’ where any waste is removed and only on hand and required inventory is available.

ZONING CODE

Local law saying how each parcel of land will be used. Also known as zoning ordinance.

ZERO LATENCY

Information technology. No time lag between information exchange to interfaces or the instant response to input.

ZONING PERMIT

Document from local government that allows a piece of land to be used for the prescribed purpose.

ZERO LATENCY ENTERPRISE

Firm responding to events as they happen as information between departments is exchanged with no delay.

ZERO RATE

Services and products exempt from value added tax.

ZZZZ BEST

Company created by Barry Minnow in the 1980’s that appeared to be successful but most of the profits were from crime , fraud or fabricated. Went public in 1986, bankrupt in 1987.

ZERO SUM GAME

Decision theory. Where a participant’s gain equals another’s loss. Also known as constant sum game. See negative or positive sum game.

ZERO UPTICK

Transaction at the same price as one before it but higher than the one before that.

ZERO AIR

Ambient air that has been filtered to have less than 0.1 PPM of hydrocarbons.

ZERO-COUPON BOND

Bond that (1) pays no interest but is sold subpar, (2) interest paying bond stripped of its coupon. Also known as non-interest bearing bond, zero interest bond, zero rated bond.

ZERO-PROOF BOOKKEEPING

Used in small businesses and by individuals. Method of bookkeeping with a zero balance at end of the accounting period.

ZIP CODE

Code established by US Postal service to indicate each location. Has since been made 9 digits allowing more accurate identification of a location. Stands for Zoning Improvement Plan.

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