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

UNDERBID

Bidding at a lower price that that of other bidders.

UNAUDITED OPINION

Certified Public Accountant’s decision not involved in preparing a financial statement is called in for a unbiased opinion.

TRILATERAL COMMISSION

David Rockefeller founded this in 1973 and is a non-governmental group for discussing policy.

ULTRA VIRES

A body exercising an invalid excess or power of authority.

TREND PERCENTAGE

Way of analysing information using a base line and then each period after that is stated as a percept of the base line.

UNDERINSURED MOTORIST COVERAGE

Section of an automobile insurance policy covering damage caused by another insured motorist with insufficient money to pay damages.

UNDERAPPLIED OVERHEAD

Situation where overheads applied to work in progress, WIP, is less than overheads actual incurred.

TROUGH

An economics’ cycle lowest point. Compare to peak.

ULTRASOUND

Sound waves that have a frequency above 20,000Hz and cannot be heard by humans.

TYPESTYLE

Thickness and stroke variations like bold, italics lending flexibility to appearance of type face.

UNDER CAPITALIZATION

Situation where businesses don’t have enough funds from stock holders for the size of operations.

TRUE-UP

Ensuring that totals for each line item match with the credit and debit accounts.

UNCLEARED CHECK

Cheque still passing through a clearing cycle. See nucleated effects.

TRUTH IN LENDING

Legislation in some countries like the Home Mortgage Disclosure Act 1968, Consumer Credit Protection Act 1969 in USA. The lender must make clear all conditions and details of a loan.

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