Life insurance policy which the policy holder pays throughout his or her life.
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ORDINARY LOSS
Losses caused by day-to-day business operations.
ORDINARY PAYROLL
Total payroll expenses for all employees of an insured business, excluding executives, contractors, officers of the company and departmental managers.
ORDINARY REGISTER
A record detailing an agents ordinary policies, held by the relevant agency or insurer.
ORDINARY REPAIR
Repairs to assets caused by day-to-day wear and tear that are required to maintain the assets functionality. These repairs do not increase the value of capital assets , they merely […]
ORDINARY RESOLUTION
Company resolution that involves unexceptional company business and requires only a simple majority vote to be passed, without prior notification of the proposal.
ORDINARY SHARE
UK / Commonwealth term for COMMON STOCK .
ORDINARY,
n. At common law . One who has exempt and immediate jurisdiction in causes ecclesiastical . Also a bishop; and an archbishop is the ordinary of the whole province, to […]
ORDINATE
The vertical axis of a chart / graph (i.e. the y axis).
ORDINATION
is the ceremony by which a bishop confers on a person the privileges and powers necessary for the execution of sacerdotal functions in the church. Phillim. Ecc. Law, 110.
ORDINATIONE CONTRA SERVIEN- TES
A writ that lay against a servant for leaving his master contrary to the ordinance of St. 23 & 24 Edw. III. Reg. Orig. 189.
ORDINATUM EST
In old practice. It is ordered. The initial words of rules of court when entered in Latin. Ordine placitandi servato, servatur et jus. When the order of pleading is observed. […]
ORDINES
A general chapter or other solemn convention of the religious of a par- ticular order. ORDINES MAJORES ET MINORES 860 ORIGINAL
ORDINES MAJORES ET MINORES
In ecclesiastical law . The holy orders of priest, deacon, and subdeacon, any of which qualified for presentation and admission to an ecclesiastical dignity or cure were called “ordincs majores;” […]
ORDINIS BENEFICIUM
Lat. In the civil law . The benefit or privilege of order; the privilege which a surety for a debtor had of requiring that his principal should be discussed, or […]
ORDINUM FUGITIVE
In old English law . Those of the religious who deserted their houses, and, throwing off the habits, renounced their particular order in eon- tempt of their oath and other […]
ORDO
Lat. That rule which monks were obliged to observe. Order; regular succession. An order of a court.
ORDONNANCE
Fr. In French law , an ordinance; an order of a court; a compilation or systematized body of law relating to a particular subject-matter , as, commercial law or maritime […]
ORE TENUS
Lat. By word of mouth; orally. Pleading was anciently carried on ore tciius, at the bar of the court 3 Bl. Comm. 203.
ORE-LEAVE
A license or right to dig and take ore from land. Ege v. Kille, 84 Pa. 340.
ORFGILD
In Saxon law. The price or value of a beast. A payment for a beast The payment or forfeiture of a beast. A penalty for taking away cattle. Spelman.
ORGANIC
1. Similar to a living organism, with clear and functional internal structure and consistent life cycle of birth, growth, decay, and death. 2. Compounds (natural or synthesized) that contain carbon.
ORGANIC ACT
An act of congress conferring powers of government upon a ter- ritory. In re Lane, 135 U. S. 443, 10 Sup. Ct. 700, 34 L. Ed. 219.
ORGANIC ACT OF THE DEPARTMENT OF LABOR
In 1913, William Howard Taft ratified this law that split the Department of Commerce and Labor into two separate departments (the Department of Law and the Department of Commerce).
ORGANIC FARMING
Agricultural production processes that only use natural sources of nutrients and do not use synthesized chemicals or genetically modified crops.