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

UNCONSCIONABILITY

Degree of unreasonableness and unfairness of a contract or deal prompting a court to modify or nullify it.

UNDER CAPITALIZATION

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

UNDER RESERVE

Situation where a bank will credit amount of a draft or cheque to a depositor’s account before it is cleared.

UNDERAPPLIED OVERHEAD

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

UNDERBID

Bidding at a lower price that that of other bidders.

UNDERCLASS

People at the lowest level of society that have becomes victims of a poverty trap.

UNDERCUT

Offering goods or services at a deliberately set lower price than competition.

UNDERGROUND PROPERTY DAMAGE

Damage to property underground such as sewers and pipes by excavation, drilling, backfilling or changing to the ground.

UNDERINSURED

Person without adequate cover for a loss or a damage or who cannot meet a requirement of co-insurance.

UNDERINSURED MOTORIST COVERAGE

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

UNDERLOADING

Situation where a plant or machine runs at less than its full capacity in order to accommodate production rate or time for processing.

UNDERPERFORM

Analyst rate of a security that reflects opinion that its will stay behind the market.

UNDERRUN

Situation where an item’s cost is below the projected cost.

UNDERSIGNED

Person’s name appearing at the end of the document, subscriber.

UNDERSTAY

Hotel guest checking out earlier than the scheduled date of departure.

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