USURY : In old English law. Interest of money; increase for the loan of money ; a reward for the use of money. 2 111. y Comm. 404. In modern law. Unlawful interest; a premium or compensation paid or stipulated to be paid for the use of money borrowed or returned, beyond the rate of interest estab- lished by law. Webster. Au unlawful contract upon the loan of money, to receive the same again with ex- orbitant increase. 4 Rl. Comm. 150. Usury is the reserving and taking, or contracting to reserve aud take, either directly or by indirection, a greater sum for the use of money than the lawful interest. Code Ga. 1SS2,
UNIVERSUS : Lat. The whole; all together. Calvin.
UNDERWRITE : 1. General. Document that is signed at the end to signify agreement , correctness or truth of contents. 2. Banking. Evaluating risk for lending by analysing loan contract details. 3. Insurance. Evaluation of a risk that assumes the liability for events in the future and match them an appropriate premium. 4. Securities trading. Assuming risk of purchasing a part or whole issue for bonds or shares.
UNFAVORABLE BALANCE : Situation arising from a company importing more than exporting on a per capita basis. Also known as trade deficit.
UPPER CONTROL LIMIT : Top limit in quality control that is higher than the average on the control chart. Opposite of lower limit.
UNFAIR CONTRACT TERM : Clause in a contract limiting rights of a counter party, consumer, who is protected under contract law that is unreasonable or void.
UNLAWFULLY : The term is commonly used in indictments for statutory crimes, to show that the act constituting the offense was in violation of a positive law, especially where the statute itself uses the same phrase. UNLIQUIDATED 1188 UPPER BENCH
UNSTABLE REACTIVE : Substances that react with the container they are stored in.
UNSHIELDED TWISTED P : Common media for transmission of data and voice communications, that connects phone subscribers to a central exchange in a LAN such as Ethernet and Token Ring. See shielded twisted pair.
ULTRASOUND : Sound waves that have a frequency above 20,000Hz and cannot be heard by humans.
UNDERCLASS : People at the lowest level of society that have becomes victims of a poverty trap.
ULTRONEOUS WITNESS : In Scotch law. A volunteer witness; one who appears to give evidence without being called upon. 2 Alis. Crim. Pr. 303.
UMBRELLA FUND : Mutual fund investing in other funds. Also known as fund so funds.
ULTRAVIOLET (UV) RAY : Solar radiation that is invisible lying just beyond the violet end of a visible spectrum. Wavelength from 10 to 400 nanometres that harms living tissue.
UBER-WEALTHY : Term describing the elite or upper class.
ULTRA VIRES ACTIVITI : Corporate activities at odds with the charter.
ULTIMATUM : Lat. The last. The final and ultimate proposition made in negotiating a treaty, or a contract, or the like.
ULTRA LARGE CRUDE CA : Oil tanker with a dead weight tonnage, DWT, betweem250,000 and 500,000.
ULLAGE : In commercial law. The amount wanting wheu a cask, on being gauged, is found not to be completely full.
UKAAS, UKASE : The name of a law or ordinance made by the czar of Russia.
UBI : the Latin word for where.
ULTIMUS HiERES : Lat. The last or remote heir; the lord. So called iu contra- distinction to the /tares proximus and the hceres remotior. Dalr. Feud. Prop. 110.
ULTIMATE CONSUMER : Individual or group that consumes services and goods.
ULTIMATE LOAD : Load of the absolute maximum a structure can bear without it failing.
ULTIMATE CONSIGNEE : Intended shipment recipient that is not the agent or bank where it is consigned to for purpose of delivery.
UDAL : A term mentioned by Blackstone as used in Finland to denote that kind of right in real property which is called, in English law, "allodial." 2 Bl. Comm. 45, note f.
UNDERBID : Bidding at a lower price that that of other bidders.
ULNA FERREA : L. Lilt. In old English law. The Iron ell; the standard ell of Iron, kept in the exchequer for the rule of measure.
ULTRASONIC INSPECTIO : Technique used to locate defects in matter by passing sound energy through the material.
ULTIMATE STRENGTH : The absolute load maximum a structure can stand before it will fail.