DefinitionA quasi-contract is a fictional contract recognised by a court. The notion of a quasi-contract can be traced to Roman law and is still a concept used in some modern legal systems.

Implied Contract Terms What are 'Implied Contract Terms' Implied contract terms are items that a court will assume are intended to be included in a contract, even though they are not expre

Ratio Analysis What is 'Ratio Analysis' A ratio analysis is a quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items in

CDO - Collateralized Debt Obligation What is CDO (Collateralized Debt Obligation)? Collateralized Debt Obligation or CDO is a financial product that brings together assets that can generate

Variable Rate Demand Bond What is 'Variable Rate Demand Bond' A bond with floating coupon payments that are adjusted at specific intervals. The bond is payable to the bondholder upon deman

General Obligation Bond (GO) What is a 'General Obligation Bond - GO' A general obligation bond (GO) is a municipal bond backed by the credit and taxing power of the issuing jurisdiction r

DefinitionIn most countries, a general partnership is an association of persons or an unincorporated company with the following major features... General Partner What is a 'General Partner'

DefinitionPari passu is a Latin phrase that literally means "with an equal step" or "on equal footing". It is sometimes translated as "ranking equally", "hand-in-hand", "with equal force", o

Targeted Amortization Class (TAC) What is 'Targeted Amortization Class - TAC' A type of credit derivative that is similar to a planned amortization class (PAC) in that it protects investor

DefinitionIn finance, the acid-test or quick ratio or liquidity ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities i