Friday, June 22, 2012

Commerce Glossary


Windfall: A sudden, unexpected sum of money or piece of good fortune received by someone.


White Knight: A company, individual, etc., who offers favourable terms in a takeover, usually saving the acquired company from a hostile takeover.




Without Recourse: A legal term written on a bill of exchange which signifies that the buyer accepts the risk of non-payment from a third party, rather than the seller.






With Profits: Describes an insurance policy which pays the sum assured plus any bonuses which may have accumulated over the term of the policy.