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

QUOTED PRICE

A written or verbal agreement that will cover the cost of repairs or for the purchase of a set number of items or a set service that is required. If a quoted

RADIATION

1. The transmission of heat through space. It is aharmless form of radiation. 2. The ionising radiation that is emmitted by radio active particles. It is harmful to all living flesh and

QUIRE

A quantity of paper. A measurement that is used to represent 24 sheets of paper traditionally. Now it is used to represent 25 sheets of paper.

RACK RATE

The rate that is charged for a hotel room or accommodation when a person just walks in off the street. It is usually more expensive than the rates that are charged by

PSYCHOLOGICAL

Having to do with and related to the science of psychology. There may be psychological reasons why certain people react one way or another that is different to how other people will

PICKETING

Picketing is the name given to the industrial action usually taken by workers of a trade union, known as pickets, who assemble in front of the company, or the home of the

PICTOGRAPH

Data that is presented through the use of pictures, symbols, etc. as well as common graphing features, such as points, lines and bars, etc. Commonly referred to as a pictogram too.

PIECE RATE

Payment made only when results are shown. For instance, an employee will only be paid depending upon the total number of units that they have produced.

PIG IRON

Metal that has not been properly processed, is in a half- finished state, and has been brought out from the blast furnace. Pig iron contains 92 perecent iron, has significantly high amounts

PIGGYBACK MARKETING

An initial marketing strategy that is pretty low costing, since it involves two, or more than two firms, who will market each other’s products in the right markets for maximum publicity.

PIGGYBACK RIGHT

A right aforementioned in a contract, allowing a party to copy the actions of another party too.

PHYSIOLOGICAL

Something that is related to the human body, or any living organism for that matter.

PICKLING

A cleaning method used for removing the dirt off metals. Generally, a powerful acit is used at 80 degrees Centigrade, in order to to remove rust, dirt, or oil.

PIECE GOODS

Items that are sold as units with a set of specified dimensions. Examples of piece goods include sized bed sheets, carpets, table cloths, etc.

PIGGYBACK

When a couple of companies take upon a business loan, it is known as ‘piggyback’. Similarly, if a company releases its stocks to the public, an investor can choose to unload his/

PHYTOTREATMENT

A method by which substances that can contaminate the soil are removed from the soil through the plantation of new plants.

PIGGYBACK PROMOTION

A simple method of promotion in which a firm would begin selling another firm’s product as a ‘bundle offer’. The other product is one that does not compete with the firm’s original

PIE CHART

A circular representation of data in the form of a ‘pie’, depicting proportional area of relative sizes in comparison to a set of data. The area of each ‘slice’ is dependent upon

PIGGYBACK LOAN

Two loans taken on the same property. For instance, a first mortgage as well as a second mortgage. Obviously, the second loan is smaller in size.

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