The Law Dictionary

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

Category: Q

QUASI CONTRACT

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

QUESTION OF LAW

A question that ha sbeen raised about a point of law. It is not answered by the jury but will be answered by the judge.

QUITCLAIM

The release of a claim, title or interest. The claim to something is relinquished and set aside.

Q’ SCHEDULE

A listing that is a requirement of the New York State Code. It is a schedule that is filed by an insurere with the particular state. It will be a list of

QUALIFIED AUDITOR

A firm of accountants or one accountant that is used to verify that the accoun ts of a business are a fair and rwal representation of ghe running of the b usiness.

QUALIFIED PRODUCT SPECIFICATION

The specifications of a product that has passed qualifications for its use. It will cover its weight and dimensions and its actual use.

QUALITATIVE FACTOR

These factors are used to highlight a company’s performance. These elements include items such as margins of profit, the style of management and product turn over rates.

QUALITY PLANNING

A system that will translate the quality policies into the creation of a quality product. The steps used will include measurable requirements and objectives. All of this must be done within a

QUASI EQUITY

A type of non-secured debt. A debt that is consideredd to have some equity traits or collateral.

QUESTIONED DOCUMENT INVESTIGATION

The investigation of documentts to degermine the level of legality. The documents will have been notified due to a fruadulent practice or situation. Also any investigation of documents to do with illegal

QUITCLAIM DEED

A document that allows the transfer of a claim, be it an interest, right or title that the maker of the document may have in a property. The person granting the transfer

Q UNIT

Term used to describe a unit of energy. It is the equivalent of 1 quintillion BTUs. It is the same value of 1000 quad units or 293,000 terra watt hours. It is

QUALIFIED BIDDER

A bidder who meets the requirements that enables them to bid for items. There is a minimum set of requirements or qualifications that must have been reached. It may include financial ability,

QUALIFIED PRODUCTS

A list of products that have been qualified for a certain use. The list is generated by a company so they know the products that they are able to use.

QUALITATIVE FORECASTING TECHNIQUE

This is forecasting that uses factors that cannot be directly measured. The estimates are made with a systems of ratings to produce a figure. No verifiable data is used it is based

QUALITY IMPROVEMENT

A method of improving the production process that makes an item. Various parts will show improvement by cutting losses, improving production times. A systematic approach is used in order to improve the

QUALITY POLICY

The policy of the top levels of management that will ensure the quality of its products. Management will develop a policy that will make sure that quality is always maintained.

QUANTITY

The amount of a product that is made or ordered. A njmerical amount that measures the objects being ordered and sold.