| A | B |
|---|
| appraisal | determination of value of property |
| consumer | the ultimate user of a good or service purchased |
| indemnity | compensation or payment for the loss which an isured party suffers |
| monopoly | the excusive right to manufacture and sell certain goods |
| bill of lading | a receipt issued by a carrier certifying that hte carrier has received certain goods for transportation to a designated area |
| beneficiary | one designated to receive benefits from an insurance policy paid by an insurance comapany |
| consignment | goods held by an agent to be paid for only if they are sold |
| eminent domain | the right of a goverment to appropriate, for a fair price, private property for public use |
| retailer | a business selling directly to customers |
| administrator | a person appointed to settle an estate or care for real estate |
| claim | notification by the insured of a loss covered by insurance |
| option | the right to buy property within a certain time at a specified price |
| group insurance | a master life or casulty insurance plan for employees negotiated by an employer |
| inventory | a list of goods on hand |
| annuity | an annual allowance or income |
| mortgage | a pledge of property as security for a loan contracted between a mortgagor and a mortgage |
| maturity | the date stated on certain insurance policies, after which no more premiums are due |
| vendor | a seller to retailers, wholesalers, and general businesses |
| lease | an agreement assuring the right of the lessee to rent property from a lessor for a specified period |
| adjustor | one who determines the amount to which an insured claimant is entitled |
| markup | the difference between cost price and selling price |
| demurrage | a charge made by a carrier for holding a shipment of goods beyond the time allowed for loading and unloading |
| lien | a claim permitting one person to hold property belonging to another until a debt is paid |
| grace period | the time between the premium due date and the time when the policy will lapse if the premium is not paid |
