Law actually and specifically enacted or adopted by i>roper au- thority for the government of an organized jural society. “A ‘law,’ in the sense in which that term is employed […]

Positive economy is when economics is studies with the ‘what is’ and ‘what will happen’ approach, in case a certain course of action is undertaken or not.

1. The eyewitness testimony . 2. Testimony that is seen or heard to take place.

When a third party realizes a benefit, gained with no direct involvement and primarily through the transactions of another party, it is known as positive externality .

When option purchases expose an investment to a larger price market. Refer to gamma and negative gamma .

When assets are greater than liabilies. Refer to gap, gapping, and negative gap .

Legislature that consists of guidelines, statutes and codes which are imposed upon a country. It is dissimilar to natural law .

A service initiated by banks, generaly to distinguish between checks that are fraudulent as wel las those who present them. Before the funds are issued, any mismatches are informed to […]

A strategy in which encouragement, the incentive of a reward or challenge might be enough to convince a person to achieve his/ her goal.

A term used in the travel industry in order to denote any seat that has been booked.

A term from the decision theory , where nobody is a winner at somebody else’s expense, while the sum of all winnings as well as the incurred losses is a […]

When a companies assets exceed its liabilities. There is plenty of liquidity to cover obligatins. Refer to negative working capital .

the term given to a wilful and premeditated act that is wrongful and with the intent to cause harm.

When short term interest rates are lower than long term rates. This indicates normal market yield. AKA upward sloping yield curve . Refer to kinked and negative yield curve .

A concept which states that only the knowledge of science is the one true knowledge of this world which can be perceived by an individual . It was established by […]

Lat A possibility . A thing is said to be in posse when it may possibly be; in esse when it actually is.

Lat. The power or force of the county. The entire population of a county above the age of fifteen, which a sheriff may summon to his assistance in cer- tain […]

To occupy in person; to have In one’s actual and physical control; to have the exclusive detention and control of; also to own or be entitled to. See Fuller v. […]

This word is applied to the right and enjoyment of a termor, or a person having a term, who is said to be possessed, and not seised. Bac. Tr. 335; […]

Lat. In the civil law . That condition of fact under which one can exercise his power over a corporeal thing at his pleasure, to the exclusion of all others. […]

Possessio fratris de f eodo simplici facit sororem esse hseredem. The brother’s pos POSSESSIO PACIFICA 916 POSSESSION session of an estate in fee-simple makes the sister to be heir. 3 […]

The detention and control, or the manual or ideal custody, of any- thing which may be the subject of property, for one’s use and enjoyment, either as owner or as […]

a term that is used for the situation where a person occupies the property that he possess.

This term is applied to a person who is occupying property whrere the title may be contested by anoyher person.

the name that is given to possession hat is assumed to exist.