What Is a Quasi Contract? Quasi contract is another name for a contract implied in law, which acts as a remedy for a dispute between two parties that don’t have a contract. A quasi contract is a legal obligation—not a traditional contract—which is decided by a judge for one party to compensate the other. Thus
What Is Queuing Theory? Queuing theory is a branch of mathematics that studies how lines form, how they function, and why they malfunction. Queuing theory examines every component of waiting in line, including the arrival process, service process, number of servers, number of system places, and the number of customers—which might be people, data packets
What Are Quick Assets? Quick assets refer to assets owned by a company with a commercial or exchange value that can easily be converted into cash or that are already in a cash form. Quick assets are therefore considered to be the most highly liquid assets held by a company. They include cash and equivalents, marketable
What Is the Quick Liquidity Ratio? The quick liquidity ratio is the total amount of a company’s quick assets divided by the sum of its net liabilities, and for insurance companies includes reinsurance liabilities. In other words, it shows how much easily-convertible-to-money assets, such as cash, short-term investments, equities, and corporate and government bonds nearing maturity, an insurance company
What Is the Quick Ratio? The quick ratio is an indicator of a company’s short-term liquidity position and measures a company’s ability to meet its short-term obligations with its most liquid assets. Since it indicates the company’s ability to instantly use its near-cash assets (assets that can be converted quickly to cash) to pay down
What Is a Quick Response (QR) Code? A quick response (QR) code is a type of barcode that can be read easily by a digital device and which stores information as a series of pixels in a square-shaped grid. QR codes are frequently used to track information about products in a supply chain and often
What Is a Quid? “Quid” is a slang expression for the British pound sterling, or the British pound (GBP), the currency of the United Kingdom (U.K.). A quid is equal to 100 pence, generally believed to come from the Latin phrase “quid pro quo,” which translates into “something for something,” or an equal exchange for goods
What Is a Quid Pro Quo Contribution? Many nonprofit foundations and organizations rely on charitable donations from corporate sponsors and individuals to meet a large part of their funding needs. These can be solicited in many different forms, from one-off contributions to ongoing sponsorships from businesses in the community. During the holidays, it is not
What Is Quiet Title? Quiet title is a lawsuit filed to establish ownership of real estate when ownership is in question. Real estate owners want to ensure that they have a clear title, meaning that there are no liens or levies against the title and no disputes over the property’s ownership. These possible problems are
What Is a Quiet Title Action? A quiet title action, also known as an action of quiet title, is a circuit court action—or lawsuit—that is filed with the intended purpose to establish or settle the title to a property. Quiet title actions are particularly prevalent in cases where there is a disagreement on the title and
