Periodic but anomalous cooling of the surface waters of eastern equatorial Pacific ocean (off South American coast), causing the opposite effects experienced during El Ninio. Typical effects include a cooling in the Pacific area, and a drying effect in the United States. La Ninia is Spanish for a little girl.

Compression-decompression method experiencing data loss by the compression algorithm, possible undetected by the user. Data file reduction technique. The decompressed file is not identical to the original file, yet has very high compression ratios. Most often used in compression of music and photographs.

A bank obtains borrower’s written consent to seize an account for non-payment of a loan or other obligations. If a bank believes its normal, lawful right to setoff may be challenged, it requires this letter. Offsets credit balance of one account with the debit balance of another. Also known as lien letter.

Intent is to ensure alignment of policy standards and the private use of land resources. Standards become permit requirements and codes/regulations. Housing codes, regulations for subdivisions, zoning ordinances, and building codes These are all government ordinances are some forms of land use regulations.

Employers, workers, and often union representatives as a joint-committee. Proposed changes as mandatory subjects of collective bargaining must be formally negotiated. Intent is to recommend efficiency and working condition improvements, and monitor improvement implementations, and resolve minor problems.

Economic concept of an open economy that the availability of a product builds its own demand. As a market has more varied produce and supply available, the populace demands more from the market, making demand meet supply. production factors like land, labor, and capital push towards full utilization. This is seen to be a sound argument, yet has not been scientifically proved. GDP depicted as income, expense value, or value of output, remains unchanged. French businessman/economist Jean Baptiste Say (1767-1832) proposed this, saying it forms the basis of supply side economics. UK economist, John Maynard Keynes (1883-1946), gave an alternative explanation, that planned output of goods and services have a value equal to planned consumption or demand. Also known as Say’s law.

Agreement, formally done, in writing, grants permissions that are revocable, both under very specific conditions and criteria. the licensing authority or proprietor or licensor gives the licensee a time-bound, exclusive, unique, non-transferable to do or have something that is typically restricted or forbidden without the license. The licensor always retains ownership over the licensed asset. A license is not a right, because the licensor may not have the legal power to give all necessary permissions that constitute a legal right. It is also not a lease, and is not assignable by the licensee. The licensor typically restricts or forbids copying or selling any part of the licensed asset without definitive written permission if granted at all. Also known as permit.

1. A defined unit collectively identifying a specific physical quantity of some item. Inventory, output, sale, sampling, or transportation typical use a lot unit. An exact lot, having full quantity, is known as a round lot, otherwise it is an odd lot. A lot is ordered, sold, released, or delivered in its entirety. A lot is typically of a single class, composition, model, size, type, or version. A lot is produced under essentially the same conditions, with uniform quality and defined characteristics. Also known as batch.
2. Another name for an unimproved parcel of land. It is a part of a community, city, or district, typically a measured tract with defined boundaries, clearly identifiable on a map, plot, or survey.

Contract written or implied so that an owner or lessor of a specific asset like a parcel of land, building, equipment, or machinery gives a lessee use rights for a specific time with conditions, as a rental for lease payments. Typically a lease is a hire-purchase agreement with no requirement of an initial deposit with an advantage of tax benefits. A long-term written lease or a deed builds leasehold interest for trading or mortgaging. It is a capital asset in a firm’s books. Leasing advantages are (1) lack of restrictive covenants , (2) conservation of capital; (3) tax savings, (4) avoiding risky obsolescence, and (5) obtaining a lease is easy. Also refer to capital lease, operating lease, and, sale and leaseback.

The lending of money. A written or oral agreement for a temporary transfer of cash from a lender to a borrower. The borrower agrees to pay back the principal, the amount borrowed, plus a stated interest percentage. A written promise to repay the loan is known as a promissory note. A demand loan is one where the lender can demand immediate payback of the loan. The typical installment loan is the one where the borrower pays a set monthly amount, principal plus interest, over the life of the loan agreement. A time loan is one paid back as a lump sum at the stated date. Consumer, commercial, industrial, construction, mortgage and secured and unsecured loans are the variety of bank categorizations of loan types..

Applying Management by Objectives (MBO) methodology to design, be it program or project, monitoring, and evaluation. MBO consists of four steps: (1) establishing objectives, (2) establishing causal linkages among activities, inputs, outputs, and objectives as cause-and-effect relationships, (3) identifying assumptions underlying the causal linkages, and (4) identifying objectively verifiable ways of evaluating progress and success. It is 4 x 4 matrix frame used to map the columns, representing program or project objective levels, that are known as vertical logic, and rows, representing progress assessing measure, that are known as horizontal logic. Also known as logical framework method or project framework.

1. Posting a accepted security on a stock exchange for trading.
2. Certification of an appliance, equipment, or supplies as complying with specific safety and/or other requirements by an independent standards or testing organization. Underwriters’ Laboratory, also known as listing agency, gives such a certification.
3. Sole right to post a property for sale is given by this written contract between a property owner, the principal, and a real estate broker, the agent. The contract authorizes the agent to give stated services to the principal during a stated period.
4. An authorized real estate broker records of a property for lease or sale.
5. Another name for listed property.

Natural element as a heavy metal that endangers life. Proven to cause mental retardation, increased infections and cancer rates. Lead blunts the body’s defense mechanisms, the immune system, and collects in blood, bones, and soft tissue. It can cause damage to the brain, as well as the central and peripheral nervous system, and kidneys. People can have lead poisoning symptoms at 0.2 ppm. The medical threshold is 0.4 parts-per-million (ppm) for adults and 0.3 ppm for children. Lead pipes, lead in soil, lead-paint flakes, or motor exhaust with lead compounds as antiknocking or performance enhancing additives in gasoline, can all contribute to water, food, and air contamination.

Draft or final format, master plan, or blueprint of different graphic elements arrangement of a printed or published work. The element lay out include body copy, colors, headlines, illustrations, and scale). The work can be an advertisement, book, magazine, newspaper, or website. Overall appearance, relative importance, and relationships between the graphic elements mesh to achieve a smooth flow of information/message and eye movement. The goal is maximum effectiveness or impact. Roughs, which are draft layouts, explore different element arrangements before a final layout is made. Printing or production requires a final layout. Also refer to page layout program.

Political and philosophical principle and belief seeking to limit government involvement in civil economical and social matters. Issues need to be settled outside the courts. Its roots trace back to the early 1890s as societies sought to escape government in France. As long as no harm comes to individuals, freewill citizen participants can make decisive decisions without government bias or influence. Based on the belief that each citizen owns every aspect of their lives and thus should have the ability to control it, strongly believe that through these shared principles, society is able to establish itself and improve as a more fruitful and peaceful society.

World’s most popular non-proprietary open source computer operating system (OS). Its proven efficiency, dependability, and reliability is the reason for its popularity. Linux runs the UNIX OS core ‘kernel’ on nearly every hardware platform, from mainframe computers to handheld devices. The fastest growing server OS, it has the lowest total cost of ownership (TCO). Public domain, no-cost free-of-charge download from several websites is unbeatable. It is continuously being improved by the worldwide cooperative effort of thousands of volunteer programmers. Linux Torvalds (born 1969 in Finland) invented Linux as a student at Helsinki University,

Document on which the lender bases the decision to lend. A loan application is neither a pledge by the applicant nor a commitment by the lender. Contains essential financial and other borrower information. Detailed business plan, 3-year and loan-life current and projected income statements showing profit and loss, balance sheet, and cash flow statement are required for a business loan. Loan amount and purpose, period and means of repayment, and guaranties and/or collateral offered are required of a company applying for a loan. Banks generally use standard forms for the applicant to fill-in for a consumer loan. Also known as credit application.

Acronym for “Light Amplification by Stimulated Emission of Radiation”. Electronic optical device. Generates an intense, very narrow, single color, or monochromatic, light beam. Pumping or amplifying photons with more energy by collisions with other photons causes the light beam. Laser beams cover vast distances without dispersion. They also can carry enormous amounts of energy, in line with 100 million watts per square centimeter, or more. Diverse uses like CD/DVD writing and reading, communications, land mapping, metal cutting and welding, surgery, and antimissile defenses occurs to the myriad types of laser in existence.

Mathematical computer modeling simulation technique. Calculated the best solutions for allocating energy, machines, materials, money, personnel, space, time, as limited resources to achieve maximum profit or minimum cost. Applies only where every relationship is linear. Refer to linear relationship. Accommodate only specific cost functions. ‘Mixed integer modeling’ is used for problems involving more complex cost functions. Russian economist Leonid Kantorovich (1912-86) and US economist C. Koopmans (1910-86), developed this method based on the work of Russian mathematician Andrei Nikolaevich Kolmogorov (1903-87).

1. In Finance, this is money potentially owed due to a claim against the assets regardless of the reason. Mandatory transfer of assets, or service provision, on stated dates is a lawful liability.
2. In Accounting, this is any payout due: payable accounts and wages, rent and taxes accrued, trade debt, short and long-term loans. Even owners’ equity is a liability is an company obligation to its owners.
3. In Law, this is the (1) lawful accountability for one’s acts or omissions, enforced by law, paid for by lawful demand for damages or punishment for one’s crimes. (2) Lawful requirement to do or not do something.

Proposed deal, confirming that a certain course of action will be taken, set in a written confirmation. Not a definitive contract. Does indicate genuine interest in finalizing the agreement. Due diligence, additional information, or fulfillment of certain conditions are typical entries in such a document. The language, text, tone used in this writing is of vital importance. It often decides the question, “Is it only an expression of intent or an enforceable undertaking?” It is usually an interim agreement that summarizes the main points. Also known as ‘memorandum of understanding’ or ‘precontract’.

Cash compensation, agreed to by signed, written contract for breach of contract, payable to the aggrieved party. The contract succinctly specifies what actions, or omissions, constitute a breach. To be legally enforceable, the contract’s nature makes damages circumstantially reasonable and difficult to determine. Otherwise, a court could interpret the specified amount as a fine, being in the contract primarily to force proper performance, and not to compensate injury. Under these conditions, the court views damages as ‘unliquidated’ to be assigned by the court based on the case’s merits alone.

Organized, arranged, steady income-producing investment portfolio. Bonds with different maturities spread the investment amount to hedge and minimize interest rate fluctuation impacts. Equal amounts of money buys bonds due to mature in 1, 3, 5, 7, and 9 years, This gains a portfolio average maturity of five years. At maturity redemption every two years, the owner reinvests the principal only in ten-year bonds. This maintains the five-year average maturity for the portfolio. Also known as staggering maturities technique. Also refer to barbell shaped portfolio and bell shaped curve portfolio.

Loans given to borrowers unable or unwilling to give a lender certain information or documentation. A variety of loan types are considered to be low documentation. Not everyone is eligible for this type of loan. The lender must be confident in an entity’s abilities to repay the balance. Typically, those using these loan types are self-employed, showing less income for tax reasons, or workers with no wage history, or business owners with no record of past consistent earnings, or people having difficulty providing lender-acceptable documentation. Also known as liar loans.

That which is left behind to remind those who are left behind of the person who is gone. Usually categorize as: (1) Demonstrative: specific funds’ payout, or specific property apportioning. (2) General: insufficiently identified, stating “a house”, rather than a specific house. (3) Pecuniary: specified money or annuity amount. (4) Residuary: personal estate’s remains. (5) Specific: exactly identified, as in, “My ’62 Corvette”. Personal property as a gift by testator/writer of the will to the ‘legatee’, an individual or organization. Also refer to inheritance.