Dictionary

Prima Facie Evidence

Definition:   a legal term used to refer to evidence that is good and sufficient on its face to establish a given fact or prove a case; at first view Pronunciation: ...

Price-fixing

Definition:   the illegal practice of conspiring to establish fixed prices or fees for services rendered or goods sold; brokers conspiring to establish a standard commission rate Pronunciation: Used in a...

Price

Definition:   the amount of money  actually paid for an item in a transaction Pronunciation: Used in a Sentence:   The actual sale price of the house was $475,000.

Present Value

Definition:    the worth of all future benefits of an investment in terms of today’s dollars Pronunciation: Used in a Sentence:   When comparing the two properties we reviewed the present...

Prepayment Penalty

Definition:   the amount set by the creditor as a penalty to the debtor for paying off the debt before it matures Pronunciation:  \(ˌ)prē-ˈpā-mənt\\ˈpe-nəl-tē\ Used in a Sentence:   A prepayment penalty is...

Prepayment Clause

Definition:   a provision in a mortgage that allows the mortgagor to pay the mortgage debt ahead of time without penalty Pronunciation:   \(ˌ)prē-ˈpā-mənt\ \ˈklȯz\ Used in a Sentence:   Since we had a...