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QUOTA SHARE

An agreement where an insurer agrees to absorb loss at a percent rather than a specified cash amount. Refer to surplus share.

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QUOTA SHARE INSURANCE

Insurance for a property that is shared with another policy. It will share the same risks wiyth a percentage that has been pre-determined.

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QUOTA SHARE RE-INSURANCE

A re-insurance premium where the ceding insurer is indemnified for each risk that is listed on the contract. Ther is a percentage loss for each risk that is listed.

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QUOTATION

1. The production to a court or judge of the exact language of a statute, precedent, or other authority, in support of an argument or proposition ad- vanced. 2. The transcription of part of a literary composition into another book or writing. 3. A statement of the market price of one or more commodities; or the price specified to a correspondent.

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QUOTED INVESTMENTS

The way in which a bond or stock will be treated when it reaches its maturity date. It is the acknowledged way a stock will act at its maturity date.

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QUOTED PRICE

A written or verbal agreement that will cover the cost of repairs or for the purchase of a set number of items or a set service that is required. If a quoted price is going to be exceeded the reason must be given before the work is continued.

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QUOTED SHARE

The share that a person has in a business or company.

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QUOTED SPREAD

The difference between the bid and offer amount. The transaction has not yet occured. Refer to effective and realized spread.

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QUOTEDRIVEN MARKET

When dealers give prices to traders who sell them. The price takes into consideration the supply and demand on the market. Refer to dealer and orderdriven market.

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QUOTIENT

a term that means the result of division.

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QUOTIENT VERDICT

A money ver diet the amount of which is fixed by the fol- lowing process: Each juror writes down the sum he wishes to award by the verdict: these amounts are all added together, and the total is divided by twelve, (the number of the jurors,) and the quotient stands as the verdict of the jury by their agreement. See Hamilton v. Owego Waterworks, 22 App Div. 573, 4S N. Y. Supp. 100; Moses v. Railroad Co., 3 Misc. Rep. 322, 23 N. Y. Supp. 23. Quoties dubia interpretatio libertatis est, secundum libertatem respondendum erit. Whenever the interpretation of liberty is doubtful, the answer should be on the side of liberty. Dig. 50, 17, 20. Quoties idem sermo duas sententias exprimit, ea potissimum excipiatur, quae rei gerendse aptior est. Whenever the same language expresses two meanings that should be adopted which is the better fitted for carrying out the subject-matter. Dig. 50, 17, 67. Quoties in stipulationibus ambigua oratio est, commodissimum est id accipi quo res de qua agitur in tuto sit. Whenever the language of stipulations is ambiguous, it is most fitting that that [sensel should be taken by which the subject-matter may be protected. Dig. 45. 1, SO. Quoties in verbis nulla est ambiguitas, ibi nulla expositio contra verba fiends est. Co. Litt. 147. When in the QUOTUPLEX 988

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QUOTIES IN VERBIS

ed. and will not be permitted to be made the subject of any adjustment or compensation on the part of the grantee. Ex parte Miller, 2 Hill (N. Y.) 423. Quod subintelligitur non deest. What is understood is not wanting. 2 Ld. Itayin. 832. Quod tacite intelligitur deesse non videtur. What is tacitly understood is not considered to be wanting. 4 Coke, 22a. Quod vanum et inutile est, lex non re- quirit. Co. Litt. 319. The law requires not what is vain and useless.

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QUOTUPLEX

Of how many kiuds; how many fold. A term of frequent occurrence in Sheppard's Touchstone.

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QUOUSQUE

Lat. How long; how far; until. In old conveyances it is used as a word of limitation. 10 Coke, 41.

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QUOV1S MODO

Lat. In whatever manner. Quum de lucro duorum quseratur, melior est causa possidentis. When the question is as to the gain of two persons, the title of the party in possession is the better one. Dig. 50, 17, 126, 2. Quum in testamento ambigue aut etiam perperam scriptum est, benigne interpretari et secundum id quod credible et cogitatum, credendum est. When iu a will an ambiguous or even an erroneous expression occurs, it should be construed liberally and in accordance with what is thought the probable meaning of the testator. Dig. 34, 5, 24; Broom, Max. 437. Quum principalis causa non consistit ne ca quidem qua; scquuntur locum habent. When the principal does not hold, the incidents thereof ought not to obtain. Broom, Max. 496. Quum quod ago non valet nt ago, valeat quantum valere potest. 1 Vent. 216. When what I do is of no force as to the purpose for which I do it, let it be of force to as great a degree as it can. a. 9S9 RAILWAY R

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QUUM ET BONUM EST LEX LEGUM

What is equitable and good is the law of laws. Hob. 224.

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QUUM QUOD AGO

words there is no ambiguity, then no exposition contrary to the words is to be made.

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QUZESTIQ

In Roman law. Anciently a species of commission granted by the comitia to one or more persons for the purpose of inquiring into some crime or public offense and reporting thereon. In later times, the qucestio came to exercise plenary criminal jurisdiction, even to pronouncing sentence, and then was appointed periodical- ly, and eventually became a permanent commission or regular criminal tribunal, and was then called "quccstio perpetua." See Maine, Anc. Law, 360-372. In medieval law. The question; the torture; inquiry or inquisition by inflicting the torture.

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QWERTY KEYBOARD

A keyboard that is liek that ona type writer. The alphabet is not in order like A, B, C. The first row begins with the letters that spell q, w, e, r, t, y.

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