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

BLACK MONDAYS

The three mondays in three Octobers over 68 years that the Dow Jones plunged causing world wide losses. October 28 1929, October 19 1987, and October 27 1997 are the mondays mentioned.

BLACK MONEY

Cash that is not taxed or recorded involved in the black economy or organized crime. It must be laundered to become legitimate.

BLACK SCHOLES OPTION-PRICING MODEL

How European options are valued for the sake of equities. The stocks volatility, price, dividends, interest rates, and expiration are used. The assumptions used are no dividend pay, simultaneous trading, no commissions,

BLACK THURSDAY

The day October 24, 1929 when the stock market crashed. Refer to black tuesday.

BLACK TUESDAY

The day October 29, 1929 that was the end of the market crash. Refer to black thursday.

BLACK WATER

When water is polluted with waste. Refer to gray water.

BLACK WEDNESDAY

The day September 16, 1992. This day Sterling lost 15% value after it withdrew from the European Union.

BLACKBERRY

A mobile device that emails, web browsing, texts, schedules, and acts as a phone. All these functions are handled in one device. It keeps a person in constant contact with clients or

BLACKBERRY ADDICTION

Using a blackberry too much. The device must be handy at all times even if its inappropriate.

BLACK-BOX ACCOUNTING

Accounting showing income and expenses in a not normal way. This is done to bury financial issues.

BLACKOUT

1. when commercial power is lost over a large area. 2. a stopping of activity over a period of time.

BLACKOUT PERIOD

When a survivor stops getting their benefits and starts getting retirement benefits.

BLACK-SCHOLES MODEL

A closedform OPTION pricing model developed by Black and Scholes to value EUROPEAN OPTIONS on nonDIVIDEND paying COMMON STOCKS. The BlackScholes framework generates option prices based on a series of assumptions including

BLAME CULTURE

When an organization has the attitude of not taking risk or responsibility. This is common when fear of prosecution or criticism is present.

BLANK DRAFT

A draft with no amount or payee name that will be filled out later to previously agreed upon conditions.

BLANKET AUTHORIZATION

A contract letting a party do an activity with no approval. A form is signed by the consenting party.

BLANKET ORDER

An order that is valid for a fixed time, quantity, and price. Supplies will be sent as they are needed without need to call for it.

BLANKING

The act of cutting or punching metal into a shape.

BLAST FURNACE

A metal cylinder that is lined with bricks used to remove impurities from iron. High air pressure is pushed through the bottom to make the process of purification faster.

BLEED PAGE

A page where printed pages don’t have margins. A small margin on the edges is left for paper gripping. It also protects the machine. It costs more depending on the size of

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