Terms starting with U

Unintentional Breach of Contract refers to a situation where a party fails to fulfill their obligations under a contract, not due to deliberate neglect or intent to ignore the contractual...

Unfair competition is a broad legal concept that encompasses various deceptive or unethical business practices that cause economic harm to competitors or consumers. The definition of unfair competition includes any...

Uninsured Activities may refer to activities or circumstances that are not covered by insurance. In general, uninsured activities are activities that are not considered to be standard risks and thus...

A Unilateral Contract is a legally binding contract between two parties, where only one party is required to fulfill its obligations. In this type of contract, one party promises to...

Underwriting Risk may refer to the likelihood of an insurance company suffering a financial loss due to their underwriting activities. Underwriting Risk is the risk that an insurance company will...

When delving into the intricate dynamics of the corporate world, the phrase "Uncertainty in Business" may refer to the unpredictable factors and potential variations that can impact the operations, outcomes,...

In the contemporary lexicon of finance and startups, the term "Unicorn" may refer to a privately-held startup company that achieves a valuation of over $1 billion. The definition and meaning...

Unladen liability, in the realm of commercial insurance, refers to the legal responsibility or potential financial loss faced by a business or individual for accidents or damages that occur while...

An underwriter refers to an individual or an organization that assesses risk and provides insurance, usually through an insurance policy. The underwriter is responsible for determining the premium, the policy's...

Unearned premium may refer to an insurance term that describes the portion of a policyholder's premium paid in advance for coverage that has not yet been used. When a policyholder...