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

MASTER DISTRIBUTORSHIP

Within a specified geographical area, a distributor with the right to appoint sub-distributors is authorized by a manufacturer in this specific type of arrangement.

MASTER LEASE

1. In Equipment leasing, this is on ongoing type of lease arrangement. Additional equipment is leased by simply doing a new lease schedule for the new equipment rather than doing a new

MASTER NOTE

A commercial contract offered to an investor with periodic investment instruments.

MASTER PRODUCTION SCHEDULING (MPS)

A comprehensive product manufacturing schedule that covers what is to be assembled or made, when, with what materials acquired when, and the cash required translated into a business plan. Material requirements planning

MASTER POLICY

The contract issued to the employer under a group insurance policy issued for employees. An insured who is able to issue certificates of coverage to others can obtain this type of property

MASTER BUDGET

A singular budget for rolling up and summarizing all of the organization’s integrated, individual budgets.

MASTER’S DEGREE

Typically requiring four years of study and obtained from a college or university, this is a distinction as a higher level of education. A master’s degree program exists in almost all industries

MATERIAL CONTRACT TERMS

A sales contract’s essential terms. A description of the item sold, the price, the quantity, and the delivery date are essential components of the material contact terms.

MATERIAL BREACH

Significant enough substantial failure in the performance of a contract, as to give the affected party the right to sue for damages as well as release the aggrieved party from its obligations

MATERIAL OVERHEAD

Purchasing, receiving, handling, storing, and delivering materials used in assembly or production processes all contribute to this type of cost.

MASTER BRAND

A firm embodies and projects over all its other brands this particular type of singular, dominant brand.

MATERIALISM

1. What cannot be perceived, being of the mind, mental states, or spirit, does not exist in this concept. Only that in nature one can perceive through senses, it being physical, exists.

MATERIAL FACT

Crucial to the interpretation of a phenomenon or a subject matter, or to the determination of an issue at hand this is a specific type of confirmed or validated event, item of

MATERIEL

For a project, operation, organization, or undertaking, this is all of the required apparatus, equipment, parts, and supplies, separate from the personnel.

MATERIAL PARTICIPATION TEST

A taxpayer is identified as a material participant in a business by this specific type of criteria. Income received by the taxpayer from that business will be identified as active or passive

MATERIAL MISREPRESENTATION

If known to the other party, a contract, deal, or transaction could have been aborted, or significantly altered by this deliberate hiding or falsification of a material fact.

MASTER AND SERVANT

The master typically has total authority over the servant in directing the manner, place, and time of services in this type of relationship. Contrast to employer-employee relationships: an employee has some discretion

MARKET CONCENTRATION

A relatively large market percentage covered by a relatively small group of entities accounts for this extent or degree.

MALL INTERCEPT

Asking questions of shoppers in a mall will take place for the purpose of marketing research conducted as one type of interviewing.

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