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FABRICATION : The process of making an item form raw materials.

FACILITY TAKEOVER : Identity theft involving impersonating another party to get financial information via mail.

FIXED INCOME SECURIT : A share that gives fixed income regularly. It can be a bond, certificate of deposit, perferred stock or any other kind of investment. Common stock is not included becasue income varies. The value changes in the opposite way of the interest rate changes.

FINANCIAL PRIVACY : Rights protecting consumers from government access to account information. It is to be kept away from the third party with no authorization from the party that has power over the information.

FRIVOLOUS : An answer or plea is called “frivolous” when it is clearly insufficient on its face, and does not controvert the material points of the opposite pleading, and is presumably interposed for mere purposes of delay or to embarrass the plaintiff. Ervin v. Lowery, 64 N. C. 321; Strong v. Sproul, 53 N. Y. 499; Gray v. Gidiere, 4 Strob. (S. C.)442; Peacock v. Williams (C. C.) 110 Fed. 910. A frivolous demurrer has been defined to lie one which is so clearly untenable, or its insufficiency so manifest upon a bare inspection of the pleadings, that its character may be determined without argument or research. Cottrill v. Cramer, 40 Wis. 558.Synonyms. The terms “frivolous” and “sham,” as applied to pleadings, do not mean the same thing. A sham plea is good on its face, but false in fact; it may, to all appearances, constitute a perfect defense, but is a pretence because false and because not pleaded in good faith. A frivolous plea may be perfectly true in its allegations, but yet is li

FAIR PREMIUM : An INSURANCE pricing methodology where the PREMIUM charged an INSURED is intended to cover EXPECTED LOSSES and operating and administrative expenses, and provide an equitable return to providers of CAPITAL. Fair premium is comprised of PURE PREMIUM and PREMIUM LOADING (which also includes EXPENSE LOADING). Also known as GROSS RATE.

FACTOR ENDOWMENT : The labor that is exploited in a country. A country with large factor endowments are better off.

FIDUCIA : In Boman law. An early form of mortgage or pledge, in which both thetitle and possession of the property were passed to the creditor by a formal act of sale,(properly with the solemnities of the transaction known as mancipatio.) there being atthe same time an express or implied agreement on the part of the creditor to reconveythe property by a similar act of sale provided the debt was duly paid; but on default ofpayment, the property became absolutely vested in the creditor without foreclosure andwithout any right of redemption. In course of time, this form of security gave place tothat known as hiipotheca, while the con temporary contract of pii/nus or pawn underwenta corresponding development. See Mackeld. Rom. Law,

FACTO : In fact; by an act; by the act or fact. Ipso facto, by the act itself; by themere effect of a fact, without anything superadded, or any proceeding upon it to give iteffect 3 Kent, Comm. 55, 58.

FRUSTRATION OF CONTR : Legal termination of a contract. Forgives non-performance. Except where contract terms override this implied legal provision, it automatically discharges the contract. It is not acceptable as an reason against foreseeable circumstances. It is not applicable contracts like insurance policies. It does occur due to unforeseen circumstances that (1) prevent achieving objectives, (2) cause illegal actions , or (3) render execution impossible. An accident, a change in law, a fire, a sickness, or third-party interference are examples of causes.

FIXTURE : 1. A fixture is a personal chattel substantially affixed to the land, but which may afterwards be lawfully removed therefrom by the party affixing it, or his representative, without the consent of the owner of the freehold. Cook v. Whiting, 16111. 480; Teaff v. Hewitt, 1 Ohio St. 511, 59Am. Dec. 634 ; Baker v. Davis, 19 N. H. 333; Capen v. Peckham, 35 Conn. 88; Wolford v. Baxter, 33 Minn. 12, 21 N. W. 744, 53 Am. Rep. 1; Merritt v. Judd, 14 Cal. 64; Adams v. I.ee, 31 Mich. 440; Prescott v. Wells, Fargo & Co., 3 Nev. 82.Personal chattels which have been annexed to land, and which may be afterwards severed and removed by the party who has annexed them, or his personalrepresentative, against the will of the owner of the freehold. Ferard, Fixt. 2; Bouvier.The word “fixtures” has acquired the peculiar meaning of chattels which have been annexed to the freehold, but which are removable at the will of the person who annexed them. Allen v. R under, 1 Cromp., M. & R. 266.”Fixtures” does

FEW : An Indefinite expression for a small or limited number. In cases where exactdescription is required, the use of this word will not answer. Butts v. Stowe, 53 Vt. 003;Allen v. Kirwan, 159 Pa. 012, 28 Atl. 495; Wlieelock v. Noonan, 108 N. Y. 179, 15 N. E.67, 2 Am. St. Rep. 405.

FATUUS : An idiot or fool. Bract, fol. 4206.Foolish; absurd; indiscreet; or ill considered. Fatuum judicium, a foolish judgment orverdict Applied to the verdict of a jury which, though false, was not criminally so, or didnot amount to perjury. Bract, fol. 2S9.Fatuns, apud jurisconsultos nostros, accipitur pro non compos mentis; et fatunsdioitur, qui omnino desipit. 4Coke, 12S. Fatuous, among our jurisconsults, is understood for a man not of right mind;and he is called "fatuus" who is altogether foolish.Fatnus prsesumitur qui in proprio nomine errat. A man is presumed to be simplewho makes a mistake in his own name. Code, 6, 24, 14; Van Alst r. Hunter, 6 Johns. Ch. (N. Y.) 148, 161.

FEDERAL RESERVE BOAR : The governing body of the US banking system, comprised of seven governors appointed by the US president. The board, which holds a voting majority on the FEDERAL OPEN MARKETS COMMITTEE, sets the DISCOUNT RATE and MARGIN requirements, establishes RESERVE REQUIREMENTS for national BANKS, and supervises the financial system at large through regulatory policies and declarations. See also FEDERAL RESERVE BANKS, FEDERAL RESERVE SYSTEM.

FOREIGN EXCHANGE MAR : A market where currency is traded and their rates are decided. Its the largest global market. 1.5 trillion dollar worth are sold daily. 85% is traded by institutional speculator or parties.

FOLC-LAND : In Saxon law. Land of the folk or people. Land belonging to the peopleor the public.Folc-land was the property of the community. It might be occupied in common, orpossessed in severalty; and, in the latter case, it was probably parceled out toindividuals in the folc-gemote or court of the district, and the grant sanctioned by thefreemen who were there present. But, while it continued to be folc- land, it could not bealienated in perpetuity; and therefore, on the expiration of the term for which it hadbeen granted, it reverted to the community, and was again distributed by the sameauthority. It was subject to many burdens and exactions from which hoc-land wasexempt. Wharton.

FIELD REEVE : An officer elected, in England, by the owners of a regulated pastureto keep in order the fences, ditches, etc., on the land, to regulate the times duringwhich animals are to be admitted to the pasture, and generally to maintain and managethe pasture subject to the inst notions of the owners, ((jeneral Inclosure Act, 1845.

FEDERAL : In constitutional law. A term commonly used to express a league or compact between two or more states.In American law. Belonging to the general government or union of the states.Founded on or organized under the constitution or laws of the United States.The tTnited States has been generally styled, in American political and judicialwritings, a "federal government." The term has not been imposed by any specificconstitutional authority. but only expresses the general sense and opinion upon thenature of the form of government. In recent years, there is observable a disposition toemploy the term "national" in speaking of the government of the Union. Neither wordsettles anything as to the nature or powers of the government. "Federal" is somewhatmore appropriate if the government is considered a union of the states; "national" ispreferable if the view is adopted that the state governments and the Union are two distinctsystems, each established by the people directly, one for local and the ot

F2EDER-FEOH : In old English law. The portion brought by a wife to her husband,and which reverted to a widow, in case the heir of her deceased husband refused hisconsent to her second marriage; i. e.. it reverted to her family in case she returned tothem. Wharton.

FURNITURE : This term includes that which furnishes, or with which anything is furnished or supplied; whatever must be supplied to a house, a room, or the like, to make it habitable, convenient, or agreeable; goods, vessels, utensils, and other appendages necessary or convenient for housekeeping; whatever is added to the interior of a house or apartment, for use or convenience. Bell v. Holding, 27 Ind. 173.The term “furniture” embraces everything about the house that has been usually enjoyed there, including plate, linen, china, and pictures. 1 Endicott v. Endicott, 41N. J. Eq. 96, 3 Atl. 157.The word “furniture” made use of in the disposition of the law. or in the conventions or acts of persons, comprehends only such furniture as is intended for use and ornament of apartments, but not libraries which happen to be there, nor plate. Civ.Code La. art. 477.

FAITH : 1. Confidence; credit; rellanca Thus, an act may be said to be done "on thefaith" of certain representations.2. Relief; credence; trust. Thus, the constitution provides that "full faith and credit"shall be given to the judgments of each state In the courts of the others.3. Purpose; intent; sincerity; state of knowledge or design. This is the meaning ofthe word in the phrases "good faith" and "bad faith."In Scotch law. A solemn pledge; an oath. "To make faith" is to swear, with theright hand uplifted, that one will declare the truth. 1 Forb. Inst pt. 4, p. 235.

FILL : To make full; to complete; to satisfy or fulfill; to possess and perform theduties of.The election of a person to an office constitutes the essence of his appointment; butthe office cannot be considered as actually filled until his acceptance, either express orimplied. Johnston v. Wilson, 2 N. II. 202, 9 Am. Dec. 50.Where one subscribes for shares in a corporation, agreeing to "take and fill" acertain number of shares, assumpsit will lie against him to recover an assessment onhis shares; the word "fill," in this connection, amounting to a promise to payassessments. Bangor Bridge Co. v. McMahon, 10 Me. 478.To fill a prescription is to furnish, prepare, and combine the requisite materials indue proportion as prescribed. Ray v. Burbank, 61 Ga. 505, 34 Am. Rep. 103.

FREE : 1. Unconstrained; having power to follow the dictates of his own will. Notsubject to the dominion of another. Not compelled to involuntary servitude. Used in thissense as opposed to "slave."2. Not bound to service for a fixed term of years; in distinction to being bound asan apprentice.3. Enjoying full civic rights.4. Available to all citizens alike without charge; as a free school.5. Available for public use without charge or toll; as a free bridge.6. Not despotic; assuring liberty; defending individual rights against encroachmentby any person or class; instituted by a free people; said of governments, institutions, etc. Webster.7. Certain, and also consistent with an honorable degree in life; as free services, in the feudal law.8. Confined to the person possessing, instead of being shared with others; as a free fishery.9. Not engaged in a war as belligerent or ally; neutral; as in the maxim, "Free ships ake free goods."

FABRIC : Interlacing fibers that have surface area and the strength to give it structure. It can be woven, knitted, or braided. Refer to textile.

FETTERS : Chains or shackles for the feet; Irons used to secure the legs of convicts,unruly prisoners, etc. Similar cnains securing the wrists are called "handcuffs."

FORCED DISTRIBUTION : The rating system for employee evaluation. It uses good, poor, and excellent ratings. It is used but not all situations fit into the categories every time. It may not reflect the true performance in all circumstances. General Electric used this first in t

FAKE CLAIMS : False insurance claims. It is done to profit from insurance.

FALSE WITNESS : a witness who has knowingly and willfully given a false testimony.

FRANCHISING : Contractual selling or renting of a business model around specific products and/or services at specific locations under specific arrangements. The franchiser contractually gives the franchisee use of a brand name or trademark or trade-name, and certain business systems and processes. The process are how to specifically produce and market franchise goods or services. A one-time franchise fee plus a percentage of sales revenue as royalty earns the franchise. The franchiser achieves rapid business and earnings expansion at minimum capital outlay. It includes (1) immediate brand recognition, (2)marketable, profitable products, (3) standard building layout and decorations (4) details for running and promoting business, (5)employee hiring and training, and (6) ongoing help in promoting and upgrading of the products.

FORISFACERE : Lat To forfeit; to lose an estate or other property on account of somecriminal or illegal act. To confiscate.To act beyond the law, i. e., to transgress or infringe the law; to commit an offenseor wrong; to do any act against or beyond the law. See Co. Litt. 59a; Du Cange; Spelman.Forisfacere, i. e., extra legem sen con- suetudinem facere. Co. Litt. 59. Foris- faccrc,i. e., to do something beyond law or custom.

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