the situation that occurs when members of a class suit are sued or sue on behalf of the other members and the court’s judgement is binding for all members.

NFPA classification for a fire due to or engulfing ordinary combustible material, such as cloth, paper, plastics, rubber, wood, and the like. These materials can be extinguished using water based […]

NFPA classification for fire due to or engulfing flammable or combustible liquids, gases, gasoline /petrol, grease, oils, paints, and the like. These materials can be extinguished only by eliminating air […]

NFPA classification for fire due to or engulfing energized electrical equipment such as motors, switches, wiring. For this type of fire only chemicals that do not conduct electric current are […]

NFPA classification for fire due to or engulfing metals that burn, such as lithium, magnesium, potassium, sodium, titanium, and zirconium. These can be extinguished by eliminating air supply and smothering […]

A seaman or soldier serving at sea

The notion that changes to the variables that affect monetary values will not impact real values such as interest rates, employment, industrial output. This is a classical economic concept.

School of economic thought promoting the notion that economies do best if everyone can pursue one’s own self interest with free and open competition . Several 18th and 19th century […]

Theory promoting the notion that economic growth ends when a population increases. Supporters of this theory believe that the population increases as the gross domestic product increases. This population growth […]

Statistical modeling tool. Used in predicting future worth(s) of a target or dependent variables. Based on the long-term knowledge on the behavior of a set of explanatory factors or independent […]

A specific part of formal logic . It is characterized by (1) the non-contradiction of variables and the elimination of double-negative variables, (2) the acknowledging of multiple paths to the […]

Management school of thought . It is based on the belief that job satisfaction for employees come only with satisfying economical and physical needs. Social needs and need for esoteric […]

Employment opportunities unavailable due to wage rates being too high.

In the Roman law. Persons employed in servile duties on board of vessels. Cod. 11, 12

In the practice of the English chancery division, where there are several parties to an administration action, including those who have been served with notice of the decree or judgment, […]

Stipulation in marine insurance policies that the vessel used for shipment meet all prescribed requirements else the insurance coverage is void or additional premium are owed.

Grouping similar assets together based on specific criteria. This grouping is used to assess a firm’s performance .

Putting buyers into categories, such as distributor, wholesaler, retailer, end user, and so on. These categories are based on where they are in the distribution chain, and used for setting […]

US Department of Transport puts poisons in two classes. (1) ClassA, which includes highly toxic chemicals, which are dangerous to life even in very small quantities as a gas or […]

1. In Shipping. it is an organization devoted to surveying new and old ships for awarding appropriate rating. Ships have their seaworthiness evaluated according to published rules and standards. Lloyd’s […]

1. a widely-used term defining information as being confidential , restricted, secret, or top-secret. 2. Categorized data or information by named groups.

Grouped small messages. Put under a specific headings and classifications. Such groupings are automobiles, employment, real estate , seen in a separate section of a newspaper or magazine. These relatively […]

Similar assets and liabilities grouping together on one balance sheet by combining the total number of assets and liabilities.

Stock in many categories that is typically divided into two classes based on benefits. ClassA is available to the public; a non-voting, dividend-paying stock . ClassB is voting stock held […]

Data requiring protection from unauthorized disclosure.