Related Words

Open Externally-Ventilated Machine: A machine which is ventilated with external air by means of a separate motor-driven blower mounted on machine enclosure.

Open-End Fund: Used in the context of general equities. Mutual fund that continually creates new shares on demand. Mutual fund shareholders buy the funds at net asset value and may redeem them at any time . . . View Full Definition

Open-End Lease: A lease agreement that provides for an additional payment at the expiration of the lease to adjust for any change in the value of the property.

Open-End Credit: Revolving line of credit that is extended with every purchase or cash advance.

Open-Buyer-Agency-Agreement: This agreement is a nonexclusive agency contract between a broker and a buyer. It permits the buyer to enter into similar agreements with an unlimited number of brokers. The buyer is obligat . . . View Full Definition

Open-Air Theater: An amphitheater, especially the unroofed public playhouses in the suburbs of London. Shakespeare's Globe and the Rose are two examples.

Open-Book Management: A management strategy emphasizing employee empowerment by making the organization’s financial data available to all employees. The goal of this type of management program is to make employee . . . View Full Definition

Open-End Loan: A loan that permits the borrower to draw money from time to time up to a credit limit. A home equity line of credit (HELOC) is an open-end loan secured by a home.

Open-End Mortgage: Mortgage against which additional debts may be issued. Related: Closed-end mortgage.

Open-Market Operation: Purchase or sale of government securities by the monetary authorities to increase or decrease the domestic money supply.