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

PERMANENT INTEREST BEARING SHARE (PIBS)

Tradable on the London Stock Exchange, a PIBS is a non redeemable security given on fixed interest, and issued by some of the top building societies of the UK. A fixed income

PERMANENT LENDER

Any lender who gives financing for over 15 years, usually to act as financing for the establishment of real estate projects is known as a permanent lender.

PERMANENT OWNERS’ EQUITY ACCOUNT

The capital stock account, as well as the retained profit account. They are known as being ‘permanent’ as they cannot be closed once the accounting period has ended.

PERMANENT PARTIAL DISABILITY

A partial disability that will affect the insured forever. Since it is partial, the insured is not completely incapacitated.

PERMANENT RECORD

A document which retains its legal, administrative and historical value without any timeframe.

PERMANENT RESIDENCE

The primary residence (home) of an entity, party, individual at a situated address.

PERMANENT RESIDENT

Any person who possesses his own permanent residence, and resides there is a permanent resident.

PERMANENT VIRTUAL CIRCUIT (PVC)

A logical, dedicated route which is situated within the physical network of a circuit on a permanent basis. Once it has been created, the PVC need not be disconnected at all.

PERMEABILITY

A characteristic of any substance or material which denotes the degree to which it allows liquids to pass through another medium, without altering the chemical or physical traits of the substance.

PERMEANCE

The opposite of permeability, or a trait which prevents liquids from passing through the material.

PERMISSIBLE DOSE

The administration of any dose of a substance, given to a worker, in a prescribed manner, without the experience of any harm.

PERMISSIBLE EXPOSURE LIMIT (PEL)

The daily limit of exposure to any substance to humans, standardized in an 8-our shift. The Permissible Exposure Limit was set up by OSHA.

PERSEVERE

To persist and overcome a number of issues to achieve a goal. Usually includes physical, or mental barriers.

PERSISTENCE

The amount of time that a substance can persist in any environment after being introduced in to a new surrounding.

PERSISTENCY

The percentage by which the policies of an insurance company remain enforced, without any lapse or replacement on the part of other insurers.

PERSON ROLE CONFLICT

The demands of a job or role that must be played by an individual, usually in conflict with her or her skills and personality.

PERSON SPECIFICATION

Usually a set of skills that must be possessed by any person to become eligible for any job, which requires those skills.

PERSONA NON GRATA

A person who is rejected by those whose acceptance is required in a scenario.

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