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

VOLTAGE

Amount of volts of potential difference of a circuit.

VOLUNTARY BARGAINING ISSUE

Matter mandated by law and discussed in collective bargaining processes. Also known as Voluntary bargaining subject, permissive bargaining issue.

VIRUS

1. A parasitic and infectious microorganism smaller than a bacterium. Incapable of independent metabolic activity. Needs to invade a living organism to derive energy to survive. 2. See computer virus.

VISION STATEMENT

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

VOLATILE ORGANIC COMPOUND (VOC)

1. Any hydrocarbon with a vapor pressure equal or greater than0.1mm of Mercury except for ethane and methane. 2. Substance able to evaporate at its temperature of use and causes oxygen to

VOLENTI NON FIT INJURIA

Legal principle where one voluntarily and knowingly consents to take risks such as in dangerous sports.

VITAL RECORD

Document, record or file in any format with information essential, necessary to create and organize operations and survival of an organization.

VOICE OF THE CUSTOMER

Insight into a customer’s wants, needs and preferences through indirect and direct questioning.

VAULT

A safe and secure area in financial institutions for storing money and valuables.

VISUAL ANALYSIS

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

VIRTUOUS CIRCLE

Advantageous situation that self propagates. Successful solutions lead to more success and more etc. See vicious circle.

VITRIFICATION

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

USEFUL LIFE

Period during which an asset will be able to be used.

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