A guarantee executed by an individual as additional security for specific performance of an obligation.
Tag: RAW
Personal selling distribution system
Insurance system that employs commissioned or salaried sales agents to sell products by oral presentations to consumers.
Personal supervision
Direction and management of a medical procedure given by the physician and the doctor must be present during the procedure. Some medical procedures require personal supervision to bill for a specific level of service. This level of supervision is required when billing “incident-to” services outside the office setting. Also see direct supervision and general supervision.
Personal Surety
Surety provided by an individual as compared to surety provided by an Insurance Company.
Personal surety (Surety)
A sole individual who guarantees the acts of another person , as opposed to an insurer or other corporate entity which acts in this capacity.
Personal Surety Ship
The giving of a bond by an individual.
Personal, Property or Liability Risk
Personal: Potential loss to the persons. Property: Potential loss to the Property,Liability Risk: Potential Liability for any individual or institution.Risk, Physical : Causing direct harm or damage.
Personality
Property which is movable. all property is either personality, reality or mixed.
Personalty (Legal Terminology)
The items of property that can be moved, unlike real property, which remains in the same location.
Personnel Loss Exposure
Personnel losses are caused by death, disability, retirement, resignation or unemployment Two main effects measureable in terms of money are (i) loss of the value of the person’s service as for example loss of profits to a promoter when because of sickness or death of a popular artist, a series of events have to be cancelled, loss of future earning for an organization when several technocrats resign to start their own company, loss of income to a family when the only earning member is laid off, etc., and (ii) Any extra expenses caused by that loss such as medical bills a family or organization has to incur, extra expenses for delay in filming a movie when the lead hero or heroine falls ill, extra expenses necessitated for employing and training new staff if the old ones do not return after a long shutdown, etc.