First In First Out - Law Dictionary Search Results
Home Dictionary Name: first in first outfirst in, first out
first in, first out : being or relating to a method of valuing inventories by which items in the lot first received are assumed to be issued or sold first and requisitions are priced at the cost per item of the oldest lot on hand compare last in, first out ...
last in, first out
last in, first out : being or relating to a method of valuing inventories by which items from the last lot received are assumed to be sold first and all requisitions are priced at the cost per item of the lot last stocked compare first in, first out ...
Last in, first out
Last in, first out, means an accounting method that assumes that the most recent purchases are sold or used first. Matching current costs against current revenues, Black's Law Dictionary, 7th Edn., p. 887....
FIFO
FIFO first in, first out ...
first degree
first degree : the grade given to the most serious forms of crimes [burglary in the first degree] first-degree adj ...
first impression
first impression : first consideration or judgment see also case of first impression at case ...
Payment, out of
Payment, out of, the words 'payment out of' in its first meaning connotes actual payment, e.g., by taking the money out of the drawer or drawing a cheque on of bank. When used in connection with the word 'fund' in its second meaning they connote that, for the purposes of the account in which the fund finds place, the payment is debits to that fund, an operation which, of course, has no relation to the actual method of payment or the particular cash resources out of which the payment is made, R.K. Dalmia v. Delhi Administration, AIR 1962 SC 1821 (1834): (1963) 1 SCR 253....
LIFO
LIFO last in, first out ...
crap out
to throw a 2 3 or 12 on the first throw in the game of craps thereby losing that turn...
Sewer
Sewer, a trench or channel through which water or sewage flows.The Court of Commissioners of Sewers is a temporary tribunal, erected by commission under the Great Seal, which used to be granted pro re nata at the pleasure of the Crown, and later at the discretion of the Lord Chancellor, Lord Treasurer, and Chief Justices, pursuant to the Statute of Sewers (23 Hen. 8, c. 5). Their jurisdiction is to overlook the repairs of the banks and walls of the sea-coast and navigable rivers; or, with consent of a certain proportion of the owners and occupiers, to make new ones, and to cleanse such rivers, and the streams communicating therewith, and is confined to such county or particular district as the commission shall name. They are a Court of record, and may proceed b jury, or upon their own view, and may make orders for the removal of annoyances, or the conservation of the sewers within their commission according to the customs of Romney Marsh, or otherwise. They may also assess necessary ra...
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