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Confession Of Judgment Clause: Permits judgment to be entered against a debtor without the creditors needing to institute legal proceedings.

Personal Responsibility and Work Opportunity Reconciliation Act Of 1996: P.L. 104-193 (September 22, 1996) was labeled as a major 'welfare reform' initiative. In addition to provisions making major changes to federal cash welfare, medicaid, work, and child care d . . . View Full Definition

Perishable Agricultural Commodities Act (PACA) Of 1930: P.L. 71-325 (June 10, 1930), as amended, regulates the buying and selling of fresh and frozen fruits and vegetables to prevent unfair trading practices and to assure that sellers will be pai . . . View Full Definition

Periods Of English Literature: The common historical eras scholars use to divide literature into comprehensible sections through periodization. Dividing literature into these sometimes arbitrary periods allows us to bette . . . View Full Definition

Personal Tax View (Of Capital Structure): The argument that the difference in personal tax rates between income from debt and income from equity eliminates the disadvantage of the double taxation (corporate and personal) of income f . . . View Full Definition

Photoflood: Artificial light source using a tungsten filament lamp and a dish reflector.

Pianoforte: Original name for the piano.

Physician Profiling: In the context of a pharmacy benefit plan, the process of compiling data on physician prescribing patterns and comparing physicians' actual prescribing patterns to expected patterns within s . . . View Full Definition

Period Of Digestion: The time period of often high volatility after a new issue is released when the trading price of the security is established by the market.

Philadelphia Board Of Trade (PBOT): A subsidiary of the Philadelphia Stock Exchange that trades currency futures.