What Is an Implied Contract? An implied contract is a legally-binding obligation that derives from actions, conduct, or circumstances of one or more parties in an agreement. It has the same legal force as an express contract, which is a contract that is voluntarily entered into and agreed on verbally or in writing by two or
What Is the Implied Repo Rate? The implied repo rate is the rate of return that can be earned by simultaneously selling a bond futures or forward contract, and then buying that actual bond of equal amount in the cash market using borrowed money. The bond is held until it is delivered into the futures
What Is Implied Authority? Implied authority refers to an agent with the jurisdiction to perform acts that are reasonably necessary to accomplish the purpose of an organization. Under contract law, implied authority figures have the ability to make a legally binding contract on behalf of another person or company. How Implied Authority Works Implied authority
What Is an Implied Warranty? An implied warranty is a legal term for the assurances that a product is fit for the purpose that it is intended and that it is merchantable, i.e., conforms to an ordinary buyer’s expectations. The warranty of merchantability is implied unless expressly disclaimed by name, or the sale is identified
What Is an Import? An import is a good or service bought in one country that was produced in another. Imports and exports are the components of international trade. If the value of a country’s imports exceeds the value of its exports, the country has a negative balance of trade, also known as a trade deficit. The
What Are the Import and Export Price Indexes (MXP)? The U.S. import and export price indexes (MXP) measure the change in prices of goods and services purchased from abroad by U.S. consumers and businesses (imports) and sold to foreign buyers (exports). The MXP measure changes in the prices of non-military goods and services. The indexes
What Is Import Substitution Industrialization (ISI)? Import substitution industrialization (ISI) is a theory of economics typically adhered to by developing countries or emerging market nations that seek to decrease their dependence on developed countries. The approach targets the protection and incubation of newly formed domestic industries to fully develop sectors so that the goods produced are competitive with imported
What Is an Impression? An impression is a metric used to quantify the number of digital views or engagements of a piece of content, usually an advertisement, digital post, or a web page. Impressions are also referred to as an “ad view.” They are used in online advertising, which often pays on a per-impression basis.
What Is an Impulse Wave Pattern? An impulse wave pattern is an indication of a strong move in a financial asset’s price coinciding with the main direction of the underlying trend. Impulse waves can refer to upward movements in uptrends or downward movements in downtrends. The term is used frequently by adherents of Elliott Wave
What Is Imputed Interest? Imputed interest is a term used in tax law to describe a situation where a lender charges no interest on a loan, but the Internal Revenue Service (IRS) considers the loan to have been made at an interest rate that is “imputed” or implied by market conditions. This can happen when
