ef·fec·tive adj
1: producing a desired effect
an effective revocation of the contract
2: capable of bringing about an effect
3: being in effect
4 of a rate of interest: equal to the rate of simple interest that yields the same amount when the rate is paid once at the end of the interest period as a quoted rate of interest does when calculated at compound interest over the same period compare nominal
ef·fec·tive·ness n
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.