Lat. In Roman law. The majesty, sovereign authority , or supreme prerogative of the state or prince. Also a shorter form of the expression “crimcn ma- jcstatis,” or “crimcn lasw […]
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MAJESTY
Royal dignity. A term used of kings and emperors as a title of honor.
MAJOR
A person of full age; one who is no longer a minor; one who has attained the management of his own concerns and the enjoyment of his civic rights. In […]
MAJOR AIRLINE
more than one billion dollars in annual operating revenue earns an air carrier this US designation . American, Northwest, and United Airlines are so designated. Also known as major carrier.
MAJOR ASSEMBLY
Lower-level assemblies comprise, or the joining of several subassemblies become, this item.
MAJOR CURRENCIES
The value of a local currency is measured and most of the world’s foreign transactions are denominated with one of the following major currencies : British Pound (GBP), Euro (EUR), […]
MAJOR FACILITY
25,000 square feet or more of usable floor area earns a building this designation .
MAJOR GENERAL
In military law . An officer next in rank above a brigadier general, and next below a lieutenant general, and who usually commands a division or an army corps. Major […]
MAJOR HOSPITALIZATION POLICY
Only covers expenses from the time the insured is hospitalized is a policy that is essentially the same as major medical insurance .
MAJOR ITEM
The operational capability of a machine, plant, or system would be impacted but not be a catastrophe if this item were unavailable.
MAJOR MARKET INDEX
Trading in options and futures is based on an index such as this. 20 blue-chip stocks comprise such a US stockmarket index. 17 of these blue-chip are also in the […]
MAJOR MEDICAL INSURANCE
A high deductible and coverage of most medical expenses is a health insurance policy of this kind. This type of policy has a clause that mandated specific percentage participation . […]
MAJOR NONCONFORMANCE
The failure, or significant usability reduction of a facility, machine, plant, program, project, or system that is likely to result in a non-critical non- conformance .
MAJOR VIOLATION
In auto insurance, this is an event that could lead to jail-time and/or severe penalties: driving under the influence of alcohol , driving with a revoked or suspended license, an […]
MAJORA REGALIA
The king’s dignity, power, and royal prerogative , as opposed to his revenue, which is comprised in the minora regalia . 2 Steph. Comm. 475; 1 Bl. Comm. 240. Majore […]
MAJORES
In Roman law and genealogical tables. The male ascendants beyond the sixth degree. In old English law . Greater persons; persons of higher condition or estate. Majori summae minor inest. […]
MAJORITY
Full age; the age at which, by law, a person is entitled to the manage- ment of his own affairs and to the enjoyment of civic rights. The opposite of […]
MAJORITY CONTROL
Corporate control gained by purchasing the majority of stock in a company.
MAJORITY FALLACY
That the largest market segment is the most lucrative is a mistaken belief leading to this type of strategic error. Due to intense rivalry among a large number of competitors […]
MAJORITY OPINION
the term given to the decision of more than half of the judges trying a case. See dissenting opinion .
MAJORITY OWNERSHIP
Control of the firm arises from common stock or ordinary shares holdings of 51 percent or more. Much less than 51 percent of shares, however, may gain effective control if […]
MAJORITY RULE
the term that describes the decision and the rule of more than half of the people who vote and disregards the choice of people who don’t vote.
MAJORITY SHAREHOLDER
a private or publicly traded corporation controlled by at least 51 percent of its outstanding shares owned by any one person or company.
MAJORITY VOTING
each director is separately voted on by shareholders in a corporate director election. Contrast to cumulative voting .
MAJORITY-OWNED SUBSIDIARY
A parent company or lateral-integrated unit with more than 50% ownership of a business unit .