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

REMITTITUR

A court process to reduce the verdict handed down by a jury.

REORDER POINT

The level reached in inventory indication the need for more supplies.

REPAIR

1. General. The restoration of a damaged, broken or failed device to return it to its original intent.2. Quality control. The action that needs to be performed so a product can fulfill

RENT CONTROL

Rent control refers to laws or ordinances that set price controls on the renting of residential housing. It functions as a price ceiling.

REMOTE JOURNALING

Continuous or periodic synchronized recording of transaction data at a remote location as a backup strategy.

REPLENISH

To rebuild an amount of money that is available for things such a petty cash fund.

REORDER COST

The expense that is involved when an order is repeated. It may be an internal order for manufacturing or an external order for supplies.

REMEDIATION

The action of remedying something, esp the reversal or stopping of damage to the environment

REPEAL

To revoke or rescind, especially by an official or formal act. 2. Obsolete To summon back or recall, especially from exile.

REPOSITORY

An indefinite storage for items where the item is not likely to be taken from.

REPO

A contract in which the seller of securities, such as Treasury Bills, agrees to buy them back at a specified time and price. also called repurchase agreement or buyback. Or we can

RENTAL PROPERTY

A type of property that derives more than 80% of its revenue from dwelling units. Residential rental property uses the 27.5 year modified accelerated cost recovery system (MACRS) schedule for depreciation.

REPEATER

1) In digital communication systems, a repeater is a device that receives a digital signal on an electromagnetic or optical transmission medium and regenerates the signal along the next leg of the

RENEWAL COMMISSION

Commission paid to an agent after the first year commission has been paid to that agent. Renewal commissions generally form a substantial portion of an agent’s income after four years in the

REPLACEMENT

1. The act or process of replacing or of being replaced; substitution. 2. One that replaces, especially a person assigned to a vacant military position.

RES GESTAE

Latin- things done. Any facts that are needed to accompany, constitute or explain a gtransaction that is being questioned.

RESIDENTIAL

An area used for housing and commercial enterprises.

REMARKETING

Marketing efforts to spur demand for a product that is experiencing declining demand by marketing it as though it were a new product. The success of a remarketing effort is dependent upon

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