The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Q

QUIET POSSESSION

Again the term does not mean with no noise. It means with no interference from another party. Each sale carries the implication that it can be owned without any interference.

QUALIFIED ACCEPTANCE

1. Different to a general acceptance. The details of a bill of exchange is altered and can be treated as a non-acceptance of the terms of the bill. 2. If an acceptance

QUALIFIED HIGHER EDUCATION EXPENSES

These are the expenses incurred by an individual when he/she attends a college or place offering higher education. A 529 fund for college can only be used for these qualified higher expenses

QUALITY CONTROL (QC)

A part of the quality assurance control that is used in the manufacture of a product. Each aspect of production is subject to its own quality control.

QUALITY OF EARNINGS

See also core earnings. The term that is used to differentiate between how a company earns its money. Money can come from investments and financing or from the primary operations that the

QUANTITATIVE DATA

Data that is able to be measured and verified. Quantatative data can be defined. Qualitative data is described.

QUARTERLY REPORT

A report on company practices or finances that is released at quarterly intervals. The report is usually made available to stock holders and interested parties.

QUERY

The request fro information from a data base. It is in the form of a question and it can be asked about any subject that is contained in the specific database.

QUINCUNX BOARD

Frank Galton invented this in the 1890’s in the UK. A tool that is used to represent and to create a frequency distribution. It has boards and pegs through which they pass

QUALIFIED ACCOUNTS

A term used by auditors about accounts which have been audited and the auditor has doubts or disagrees with certain aspects of the accounts. The doubts will be considered to be of

QUALIFIED MEDICARE BENEFICIARY

A person who will qualify for a Medicare benefit due meeting a low income requirement. The level of income is dictated by the current poverty level. Anyone who receives income above this

QUALITATIVE

This describes a property that is associated with a certain item or product. It will describe the reputation, feel, smell, taste, image of a certain product. It can aslo be used to

QUALITY CREEP

An aspect of constantly improving a product. As a product continues to be improved by the manufacturer the price will increase in direct proportion to the increase in quality. The price will

QUALITY OF LIFE

The daily activities that people undertake that have been enhanced by external factors. These factors are natural factors such as good water, clean air, outdoor activities, open spaces. It also relates to

QUARTERLY SERVICES SURVEY

The Census Bureau will produce a survey every quarter that is considered to be an indicator of the trends in an economy. The survey provides estimates of the revenue from hospitals, nursing

QUERY BY EXAMPLE (QBE)

An example is provided that a query is similar to. The data base will look for items with the same characteristic.

QUINTAL

A unit of metric measurement. It is the equivalent of one tenth of a tonne or one tenth of 100 kilograms. It is equal to 220 pounds.

QUALIFIED ACQUISITION COST

A withdrawal amount that is taken early from an IRA that is used for financing a first home. Most early withdrawels will attract a penalty unless the withdrawal is used for the

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