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penetrate the market
to enter into a market
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per annum
(Latin) per year
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perfected
when the appropriate filing or registering or other formal action of a security interest has been done to protect one's security interest in another's property against all other creditors
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perfection
appropriate filing or registering or other formal action of a security interest in order to protect one's security interest in another's property against all other creditors
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performance
completion of obligations required by contract
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personal liability
state of being legally obliged out of one's own personal assets
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personal property
(also chattels in common law) things that are moveable (as opposed to real property) and capable of being owned
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personalty
personal property (as opposed real property)
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petitioner
(US) person who brings a petition to a court, especially on appeal
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picketing
demonstration outside a place of work in which people congregate to dissuade others from entering the building, usually done in attempt to persuade another party to meet certain demands. It is often done during a strike.
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pleading
formal written statement setting forth the cause of action or the defence in a case
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pledge
property which is security for a debt or obligation
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pledgee
person who receives a pledge, or the creditor in a secured transaction
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pledgor
person who gives a pledge, or the debtor in a secured transaction
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possessory
type of security interest whereby the creditor has the right to control the property
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predatory pricing
pricing a product 50 low - for example, below its production cost - as to eliminate competition
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pre-emption rights
(UK) rights of shareholders to maintain their proportionate ownership in a company by purchasing newly issued stock before it is offered to the public (US preemptive rights)
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preference shares
(UK) shares that are given preference in dividend entitlements over ordinary shares, but usually do not carry any voting rights (US preferred shares)
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price fixing
conduct of setting a price for a product which is contrary to workings of supply and demand, and therefore contrary to the free market
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priority
right to enforce a claim before others
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priority creditor
creditor who is given priority over other creditors, or has first claim over the debtor's assets
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private international law
body of law dealing with disputes between private persons living in different nations and governing such things as applicable law, jurisdiction and enforcement of judgments
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privity of contract
relationship between parties to a contract
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pro forma
(Latin) as a matter of form
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pro rata
(Latin) proportionally
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proflt-and-Ioss account
(UK) statement summarising a company's revenues and expenses over a period of time (US profit-and-loss statement or income statement)
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promisee
person to whom a promise, or an assurance that something will or wilt not be done, is made
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promisor
person who makes a promise or an assurance that they will or will not do something
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promissory note
formal unconditional written note made and signed by a person obligating him or her to pay a specified sum of money to another specified person or to the bearer of the document
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