A purchase money mortgage is a mortgage on a piece of real property given by the buyer to the seller or a third-party as part of the deal to buy the property.
Purchase money mortgages are executed simultaneously with the...
commercial transactions
purchase-money collateral
Purchase-money collateral refers to collateral that was purchased completely or in part by the debtor with the funds given to create a security interest in the collateral. For example, if a debtor granted an appliance store a security...
purchase-money security interest
Purchase-money security interest (PMSI) refers to security interests in purchase-money collateral. Purchase-money collateral is the collateral that was purchased completely or in part by the debtor with the funds given to create a security...
qualified indorsement (endorsement)
Qualified indorsement (or endorsement) is an indorsement that passes title to a negotiable instrument with certain restrictions. It is an indorsement coupled with an additional phrase, e.g. "without recourse," thereby limiting the liability...
qualified institutional buyer (QIB)
A qualified institutional buyer (QIB) is a type of institutional investor to whom holders of securities purchased in a private placement may sell their securities under Rule 144A. Rule 144A(a)(1) defines qualified institutional buyer as,...
qualified small business stock
Qualified small business stock refers to stock that qualifies for the tax deduction for investments in small business stock. For qualifying stock from a C corporation, the owner may deduct up to 100% of the income from the stock, representing...
quantum meruit
Quantum meruit is Latin for "as much as one has deserved." Quantum meruit is an equitable remedy that provides restitution for unjust enrichment, often employed in contract law.
Quantum meruit damages are awarded in an...
quasi property rights of a human body
Quasi property rights of a human body refers to the numerous “rights” that have been recognized over time regarding the handling of a human body after death.
Under common law, the no property rule established that there can...
quo warranto
Quo warranto is Latin for "by what warrant” (or authority). A writ of quo warranto is a common law remedy which is used to challenge a person's right to hold a public or corporate office. A state may also use a quo warranto action to revoke a...
racketeering
Racketeering is a set of illegal activities aimed at commercial profit that may be disguised as legitimate business deals. Racketeering is defined by a coordinated effort by multiple people to repeatedly earn a profit. Typically, by fraud,...