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

AFFORDABILITY

When an acquisition is analyzed and is deemed to be worth the resources it takes to manage it.

AFLOAT

Goods on a boat betwen the start and end of the journey.

AFTER-ACQUIRED PROPERTY

When property is bought by a debtor after entering a contract. Other property has already been used to secure the loan. The acquired property is safe if bankruptcy must be filed.

AFTERMARKET

The second hand market for parts to maintain equipment. Some are very large. AKA replacement market or secondary market.

AFTERNOON DRIVE

The prime radio times to advertise. They are from 3-7 pm and 6-10 am.

AGATE

The size of advertising space. For print its 5.14 points equalling 1.81 mm. Refer to milline rate.

AGE AND LIFE CYCLE

Organizing an age group based on their life stage. This changes as a person ages. The stages are child, young adult, adult, and older adult.

AGE SETBACK

Assuming women live longer than men. This means they will pay more premiums and thusly a discount is given for this.

AGENCY BY ESTOPPEL

When an agent is appointed but not officially. AKA presumption of agency. Refer to partnership by estoppel.

AGENCY BY NECESSITY

When one party makes decisions for another. It is because the other party cannot make the decisions.

AGENCY CAPTIVE

A CAPTIVE, owned by one or more INSURANCE AGENTS, which is used to write insurance cover for a large number of third party clients. See also GROUP CAPTIVE, PROTECTED CELL COMPANY,PURE CAPTIVE,

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