Future consideration refers to a promise of value to be provided at a later date as part of a contractual agreement. In legal terms, it serves as the exchange of value required to make a contract binding, though its enforceability varies by jurisdiction.
A liquidation sale is a process where a company or individual sells off inventory, assets, or merchandise at reduced prices to quickly convert them into cash, often due to financial distress, closure, or surplus stock.
Aritzia is the brand name of a Canadian fashion retailer. While it is often perceived as a word with a specific linguistic meaning, it is primarily a proprietary brand name created for commercial identity.
No price analysis refers to a situation in procurement or financial auditing where a purchase was made without a formal evaluation of market rates or competitor pricing. This typically indicates a gap in due diligence or a specific exemption in procurement policy.
The primary insured is the individual or entity who holds the main ownership of an insurance policy and is the principal party covered by the contract. They are typically responsible for premium payments and serve as the primary point of contact for the insurer.
In financial aid, the term ‘anticipated’ typically refers to projected or expected financial information or circumstances used to determine eligibility for aid. This may include anticipated income, expenses, or enrollment status that aid offices use to estimate a student’s financial need before final data is available.
Keystone pricing is a retail pricing strategy where a product is sold at double its wholesale cost. This method provides a standard 50% gross margin, simplifying the pricing process for retailers.
The term “left roadway” on an insurance claim identifies the side of the road where an incident occurred. Understanding its meaning helps claimants accurately report accidents and can affect liability determination.
No bond in jail means a detainee is not eligible for release on bail while awaiting trial. This status is often set by a judge due to the severity of the charges, flight risk, or danger to the public.
Back of the house (often abbreviated BOH) refers to the areas of a business, especially a restaurant or hotel, where staff work away from public view. It includes kitchens, prep stations, storage, and administrative offices, and contrasts with the front of the house where customers are served.