A certificate issued by the Family Division of the High Court, on the application of executors appointed by a will, to the effect that the will is valid and that the executors are authorized to administer the deceased's estate. When there is no apparent doubt about the will's validity, probate is granted in common form on the executors filing an affidavit. Probate granted in common form can be revoked by the court at any time on the application of an interested party who proves that the will is invalid. When the will is disputed, probate in solemn form is granted, but only if the court decides that the will is valid after hearing the evidence on the disputed issues in a probate action.

• problem children
• process engineering
• process re-engineering
• procuration
• produce
• produce broker
• producer price index
• productive expenditure
• products-guarantee insurance
• products-liability insurance
• professional-indemnity insurance
• professional valuation
• profit
• profitability
• profitability index
• profit and loss account
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• profit forecast
• profit margin
• profits available for distribution
• profit-sharing ratio
• profit-sharing scheme
• profits tax
• profit taking
• profit warning