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

BILATERAL MONOPOLY

When the market has one buyer and one seller. Its common in intermediate states in production. A monopoly or monopsoly is different than this term.

BILL OF GOODS

A list of items for sale. It could also be a promise that is misleading to the buyer.

BILL OF LADING (B/L)

A document a carrier or agent gives a shipper to carry the goods. It can be a receipt for cargo that is to be taken to a destination.

BILL PRESENTMENT

1. giving a bill of exchange to a bank to be accepted as payment. 2. sending an electronic invoice so a customer can review charges before making a payment.

BILLBOARD

1. an announcement that identifies the sponsors of the advertising. It is shown at the end or the beginning or a program on TV or radio. 2. A large outdoor sign that

BILLED WEIGHT

The weight of a shipment on the freight bill. Its used to compute the freight.

BILLING

Making an invoice for sales recovery. AKA invoicing. Refer to billings.

BILLING LAG

The days between costs and invoicing them. It is the time it takes data to process.

BILLINGS

The total bills in a period. Refer to billing.

BILLION

A number with nine 0s. It is also shown as a B after a number.

BILLIONTH

A single part in a billion. The fraction for it is 1/1,000,000,000.

BINARY FILE

A file that has information in a computer readable form. The file can be displayed, read, or used.

BINARY OPTION

An option that has a fixed pay off that starts when an index moves beyond a range. AKA all or nothing option, bet option, digital option, or one touch option.

Topic Archives:

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.