Business Vocabulary – Glossary of Terminology for Business correspondence Part-2
Contract – Witnessed agreement, usually in writing, the terms of which are legally enforceable.
Comptroller – Auditor with the rank of executive.
Contractor – One who specializes in a certain type of work e.g. building contractor.
Sub-Contractor – one who performs part of a piece of work e.g., plumbing sub-contractor.
Consign – To send or address goods by bill of landing, etc., to an agent in another place to be stored, sold or otherwise cared for.
Cooperative – A business enterprise or association with the object of producing, purchasing, selling, or occupying quarters at common savings to members by eliminating middle-man fees and profits.
Consignee – One to whom goods are shipped.
Copy – Text of advertising duplicate of an original letter or of an article of commerce. Ordinary carbon copy duplication of typing.
Consignment – Transaction in which purchase is not final, unsold goods may be returned to consignor.
Copyright – Exclusive publication rights, other pieces of creative work are copyrighted after publication.
Corporation – A business association operating on a state franchise and with liability limited to the amount of the investment.
Consumer – Ultimate purchaser or uses of merchandise.
Corner – To secure such control of stock or commodities as to be able to dictate quotation prices.
Dock Receipt – Signed by steamship company for freight delivered to dock.
Debenture – Synonym for debt documentary evidence of debt.
Dividend – Money paid to shareholders or depositors as share of profits.
Debit and Credit Memoranda – Issued by companies to effect necessary adjustments in the course of business transactions.
Distributor – Person or company through whom goods reach the consuming public Wholesale Distributors supply Retail Distributors who serve the public directly.
Decontrol – Removal of government restrictions on prices, rents, etc.
Deposit – Money or equivalent entrusted for safekeeping with another, as in a bank money given as partial payment in a transaction or as a binder in a contract.
Deduction – Sum or money subtracted from amount to be paid for goods or services.
Deposition – Testimony given by witness unable to appear in court.
Deed – Contract by which real estate is conveyed by one party to another.
Depreciation – Decline in value, usually as a result of loss through wear, neglect, exposure, etc. Machinery is usually calculated to suffer an annual depreciation of 10% in value through wear.
Defalcation – Misappropriation of money placed in trust the sum misappropriated.
Depression – Deep and prolonged decline of industrial and general business activity
Default – To fail in fulfilling a contract or other financial obligation.
Deteriorate – To spoil or lose quality with time, e.g., food and certain manufactured articles such as photographic film.
Deficit – Amount by which expenses exceed income, liabilities exceed assets, production falls below expectation.
Detriment – Damage by intangible cause, such as injury to a firm’s reputation through rumors.
Deflation – Decline to purchase commodity together with capacity to pay for it.
Devise – To will property in real estate.
Demand – Desire to purchase commodity together with capacity to pay for it.
Director – person entrusted with determining policies and decisions of a firm.
Demand Bill or Draft – A bill payable at sight, or on demand.
Disbursements – Payments to meet bills.
Demand Item – Article in constant demand, which must be carried in stock constantly.
Discount – Allowance for cash or quick payment Trade Discounts are discounts from wholesale prices allowed to customers and scaled according to amount of purchases and other considerations.
Demand Loan – Loan payable on demand.
Damage – Loss in merchandise, machinery, service, productive capacity or trade standing. Compensation for such damage may be claimed depending on the circumstances, in a court of law.
Demand Note – Note payable on demand.
Dead Stock – Unsaleable merchandise.
Demurrage – Charge by transportation, company for detention of carrier beyond allotted time.
Duty – Payment imposed by the government on goods imported, exported, or consumed, such as customs duties, excises, etc.
Draft – Paper by which one party, usually the seller, orders another party usually the buyer, to deliver to a third party, usually a bank, a sum to be credited to the account of the first party. Used to assure payment and to secure settlement of unpaid accounts, since rejection of a draft when presented by the bank is recorded and affects credit standing.
Duplicate – Copy or identical likeness, e.g., duplicate of bill.
Drawee – Bank on which check or draft is drawn.
Dummy – Sample of proposed book, magazine, or booklet to show size, formal and sample pages.
Drawer – Person who draws money from his bank account by check.
Due Bill – In brokerage business, a type of IOU by broker, promising to deliver certain stocks not available at time of sale also used for promised future delivery of dividends, etc.
Dry Goods – Commodities made from fabrics.
Expediter – One whose job it is to expedite or facilitate business and other transactions.
Execution – Carrying out of terms of a will or a court order.
Expedite – To accelerate production or distribution of goods or rendering of service.
Earned Income – Income derived from wages, salary, or fees in return for labour, advice or management services.
Economy – Organization of the production, distribution, and consumption of goods in a community.
Executor (Executrix) – One designated to carry out terms of a will.
Efficiency Engineer – A person whose profession is to plan or change production methods to secure greater economy and efficiency.
Earned Surplus – Balance of profits and income remaining after deducting losses, dividends, and transfers to capital stock, etc.
Exchange – Transfer of goods place where business interests of a certain sort meet for transaction, e.g., stock exchange, cotton exchange, etc.
Earnest Money – Deposit or binder a sum of money paid to seal a bargain and to be deducted from purchase payment.
Embezzle – To fraudulently appropriate to one’s own use property entrusted to him.
Estimate – Statement of amount of goods to be produced or stored or of sum for which certain work will be done.
Endorse (also Indorse) – To sign one’s name as a payee or to indicate co-responsibility for payment on a check, bill, note, or other document.
Estate – Property in lands or tenements, sometimes inaccurately used for properly other than lands or tenements total properly left by a deceased person.
Enterprise – In association with the word “free” or “private” has come to replace “capitalism” to differentiate the non-socialist from the socialist type of economy.
Escrow – Papers or money in keeping of responsible third party such as bank, held until certain conditions are fulfilled.
Entrepreneur – One who takes commercial risks enterpriser.
Equity – In real estate, difference between value of property and owner’s debt on it. In margin buying difference between market value of a stock and customer’s indebtedness for its purchase.
Entry – Item in a business record.
Futures – In commodity exchange, contracts for subsequent delivery, as of a crop not yet harvested.
Facimile – Exact copy not necessarily of same size, photostate can serve as satisfactory fascimile.
Fund – Dash or specified assets set aside for a specific purpose.
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