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

TRIPLE NET LEASE

Rental agreement where the tenant pays all 3 operating costs insurances. Maintenance and utility costs, property taxes and the landlord then receives net rent.

TRIPLE OPTION

Employer plan offering employees choice of provider types with varying coverage and cost.

TRIPLEX

Building with 3 townhouses or apartments.

TROJAN HORSE

Computer program that appears to be legitimate and useful but is secretly performing illegal and destructive functions.

TROPICAL RAIN FOREST

Dense forest of trees that are evergreen that grow in regions of heavy rainfall at tropical latitudes, Borneo, Amazon, Basin, and warm temperate latitudes, Australia, Florida etc. Diverse and complex with great

TROPICS

Region lying between the Tropic of Cancer, north of the Equator and the Tropic of Capricorn, south of the Equator.

TROUBLED DEBT RESTRUCTURING

Process where a lender, bank, modifies loan agreement terms that will minimise losing custom from customer’s who are incapable financially to meet previous terms.

TROUGH

An economics’ cycle lowest point. Compare to peak.

TRUE AND FAIR VIEW

Used in UK applying to an auditor making a decision on a firms accounting practices.

TRUE CAPACITY

Actual capacity of a machine, factory, process or production line to generate output under given constraints of material availability and a sustainable speed.

TRUE GROUP INSURANCE

Policy of insurance for a group that is issued with master contract and insurance certificates and not policy contracts.

TRUE INTEREST COST (TIC)

Total cost annually of getting debt finance that is expressed as a percept of the total account of debt.

TRUE LEASE

Lease arrangement for many years where landlord retains ownership but the tenant keeps possession of the property for the lease term.

TRUE VALUE

Amount the buyer is prepared to pay for an item.

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