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

POSTDATE

The antonym of ante date, ‘post date’ is any date that lies in the future.

PRACTICABLE

Any idea or project which can be brought to fruition or reality without any unreasonable demands.

PREAUTHORIZED PAYMENT

An arrangement between a bank and its customer, allowing the bank to debit the client’s account for a loan or any installment that is payable.

PRE-APPROVAL

Any buyer who has a positive credit rating can be pre approved before they go home shopping. The lender generally checks the credit history before determining whether a loan should be granted

PRECATORY WORDS

Words that are used to depict a certain desire or recommendation without actually binding the listener with them. For instance, ‘it is my desire and/or wish to?’

PRACTICAL CAPACITY

The capacity of a company in order to provide the best possible service without any interruptions or delays.

POSTNUPTIAL AGREEMENT

An agreement formed between a married couple, generally to provide specification regarding the division of assets in case the couple get separated or divorced.

PRECYCLE

A method of waste reduction in which materials that have been discarded are set apart on their level of recyclability.

PRE-AWARD SURVEY

A survey conducted to evaluate the financial, managerial and operational capabillities of any contractor, before the actual contract is awarded.

PREDATORY LENDING

The use of several methods of lending, usually shady, which are used to gain unlawful benefits from borrowers.

PRECISION

The level of closeness to a certain pattern, objective or standard.

PRECAUTIONARY PRINCIPLE

A rule in environment management which states that if serious damage can be caused to the environment and/ or to the health of a human being, immediate steps should be taken in

PRECISE

Close to a certain point; minutely exact.

PRE-ADMISSION AUTHORIZATION

An authorized document which needs to be taken from the insuring party, before an insured party can be admitted to a hospital.

PRECERTIFICATION AUTHORIZATION

An authorization that must be taken from the insurer before treatment can be gven. The physicican of the insured party has to give in an estimate of the costs, as well as

PRE-BID SHOPPING

Negotiations and discussions carried out between the contractor and the client, before the tender has been awarded. Generally done in order to get a lower price rate.

PORTFOLIO RUNOFF

Getting a portfolio reinsured until the period of time until all of the existing premiums have been paid.

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