Category: Q

not enjoy his right because the owner bad so obstructed it. Cowell.

An organisation that is not run by government and whose members are nations and countries and not individual people. The functions performed are often those that are performed by a government.

a term applied to an admission that has inconsistent statements.

An institution that acts like an insurance company that has been set up by a government. It will act like an insurance company but it will not be an insurance company.

In the civil law. The af- p finity which exists between two persons, one of whom has been betrothed to a kinsman of the other, but who have never been married.

An agreement that is between two parties where one party will borrow money from the other. The agreement is that the money will be paid back in the future but there are no set terms like there would be on a loan from a financial institution.

An arbitrage that uses internal funds instead of external funds. Refer to pure arbitrage.

A government regulated company that is not owned by the government but is owned privately. An example would be that of a federal contractor working for the Navy.

A determination by a court about the obligation of one party to another. No actual contract exists but the agreement is similar to a contract. It is based on the conduct of the parties, their relationship and that one party may be come unjustly richer without the courts intervention.

Organizations resembling corporations; municipal societies or similar bodies which, though not true corporations in all respects, are yet recognized, by statutes or immemorial usage, as persons or aggregate corporations, with precise duties which may be enforced, and privileges which may be maintained, by suits at law. They may be considered quasi corporations, with limited powers, co-extensive with the duties imposed upon them by statute or usage, but restrained from a general use of the authority which belongs to those metaphysical persons by the common law. Scates v. King, 110 111. 456; Adams v. Wise-asset Bank, 1 Me. 361, 1 Am. Dec. 88; Lawrence County v. Railroad Co., 81 Ky. 227; Barnes v. District of Columbia, 91 U. S. 552, 23 L. Ed. 440. This term is lacking in definiteness and precision. It appears to be applied indiscriminately (a) to all kinds of municipal corporations, the word “quasi” being introduced because it is said that these are not voluntary organizations like private corporations, but created by the legislature for its own purposes and without reference to the wishes of the people of the territory affected ; (b) to all municipal corporations except cities and incorporated towns, the latter being considered the only true municipal corporations because they exist and act under charters or statutes of incorporation while counties, school districts, and the like are merely created or set off under general laws; (c) to municipal corporations possessing only a. low order of corporate existence or the most limited range of corporate powers, such as hundreds in England, and counties, villages, and school districts in America.