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

VIRTUAL

1. General. Having the properties of a thing but being the thing. 2. Computing. An operation or feature appearing to exist but it does not.

VIATICAL SETTLEMENT

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

VISIONING

Mental process where images of goals are used to motivate present action.

VIDEO-CONFERENCING

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

VITRIFICATION

Method of waste disposal using high temperatures to immobilize and encapsulate radioactive and hazardous materials.

VISION STATEMENT

Inspirational description of what the organization wants to achieve. See mission statement.

USA PATRIOT ACT

Act passed after September 11 2001 giving law enforcement agencies tool to prevent acts of terror.

VISUAL ANALYSIS

Observing the features and arriving at a general estimation. Also known as visual inspection.

VESTING

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

VIBRATION

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

VALUES, ATTITUDES, AND LIFESTYLES SYSTEM (VALS-2)

Proprietary psychographic consumer segmentation system classifying people into 8 groups based on lifestyle. 1. Actualizes, 2, Fulfillers, 3. Achievers, 4. Believers, 5. Strives, 6. Experiencers, 7. Makers, 8. Strugglers.

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