What Does Y2K Mean? Y2K is an acronym for the year 2000. In the late 1990s, there was serious concern that potential computer errors would occur related to the computer formatting of calendar dates. The fear of Y2K was in response to a prevalent computer programming shortcut. Many computer programs […]
Legal Terms
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What Are Treble Damages? Treble damages are punitive financial compensation awarded by a court to a plaintiff for up to three times the value of the original judgment. Treble damages are provided for by law in certain types of lawsuits. In those circumstances, if the court rules in a plaintiff’s […]
What Is Garden Leave in an Employment Contract? Garden leave is an employment practice where an employee who gives notice is paid during the notice period, but required to stay away from the workplace. Garden leave is a period of time during which an employee remains away from work or […]
What Is Unencumbered? Unencumbered is used to describe an asset or property that is free and clear of creditor claims, judgments, liens. mortgages, or obligations. If a person is unencumbered, they are free of baggage. As a result, they don’t have anything to carry or they are emotionally carefree. Similarly, […]
What Does it Mean to Boil the Ocean? To boil the ocean is an idiomatic phrase. An idiom is a phrase that means something different than its literal translation. Boiling the ocean means undertaking an impossible task or project or making a job or project unnecessarily difficult. The phrase appears […]
What Does MFN Mean? What does MFN mean? It is an acronym for Most Favored Nation status. It represents a high level of treatment from one state to another in international trade and finance. The term comes from the field of international trade. Treaties and trade agreements often include provisions […]