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

VESTING

Process where the authority privilege or right to interest or asset unconditionally passes to a body.

VESTING PERIOD

Period of time an employees needs to work to fully own company shares in a stock option plan.

VETOING STOCK

Holder can veto corporate decisions but not board of director elections.

VETTING

Formal examination prior to grant of approval.

VIATICAL SETTLEMENT

Settlement where an insurer pays a part of death benefits covering a person with a terminal illness.

VIBRATION

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

VICARIOUS LIABILITY

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

VICIOUS CIRCLE

Disadvantageous situation that is self propagating and leads from one thing to another and back again. See virtuoso circle.

VICKREY AUCTION

Sealed auction bid where successful bidder pays second top price. Also known as second bid auction, second price auction.

VICTIM

Person harmed by criminal acts, attack target.

VIDEO

Source of visual multimedia with moving pictures.

VIDEO-CONFERENCING

Real-time two way transmission of video and audio signals over a LAN or the internet. Also known as video teleconferencing.

VIENNA CONVENTION

Treaty that governs international trade defang rights of importers and exporters. Aloes known as UN Convention on Contracts for the International Sale of Goods.

VIEWTIME

Seconds of time a banner ad can be seen on a web page.

Topic Archives:

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.