No Capacity To Contract: The inability of a person to enter into a valid contract under any circumstances. Such inability can arise when a person has been adjudicated insane or is an officer of a corporation who is not authorized to execute a contract in behalf of a corporation.

 

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No Capacity To Contract: The inability of a person to enter into a valid contract under any circumstances. Such inability can arise when a person has been adjudicated insane or is an officer of a corporation who is . . . View Full Definition

Capacity Of Parties: The legal ability of people or organizations to enter into a valid contract. A person entering into a contract will have full, limited or no capacity to contract.

Philippine Stock Exchange: Stock exchange based in the Philippines, which operates two trading floors, at Manila and Makati.

Phillips Holiday Nog: Egg nog style liqueur.

Phonogram: A written symbol that indicates a spoken sound. Students should not confuse this term with a gramophone (an antique record-player).

Phonology: According to Algeo, 'The units of sound (phonemes) of a language with their possible arrangements and varieties of vocal expression' (329). More generally, the study of sounds and sound-syst . . . View Full Definition

Phonolexis: A term coined by philip davies roberts to describe 'meaning conveyed through phonemic connotation limited to speakers of a particular language' (how poetry works: the elements of english poe . . . View Full Definition

Philadelphia Stock Exchange (PHLX): A securities exchange trading American and European foreign currency options on spot exchange rates.

Phenolphthalein: An organic compound used as an acid-base indicator. The compound is colorless in acidic solution and pink in basic solution (with the transition occuring around ph 8.3). Phenolpthalein was u . . . View Full Definition

Phenol Varnish: Resin used to produce a hard durable top coating.