Legal Articles

ZERO COUPON SWAP

A sway exchanging periodic payments for one lump payment at maturation.

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ZERO COUPON YIELD CURVE

A yield curve showing discounts for maturities from a starting point to present. This is done through stripping the yield curve.

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ZERO MINUS TICK

When a security sells at the price the last transaction had. This price is lower than the transaction prior to that one. Refer to minus tick, plus tick and zero plus tick.

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ZERO PLUS TICK

Selling a security at the same price as the last time but higher than the one prior to it. Refer to minus tick, plus tick, and zero minus tick,

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ZOMBIE

A company that is insolvent but continues to operate. This is done before restructuring or a bail out occur.

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ZYTHUM

Lat. A liquor or beverage made of wheat or barley. Dig. 33, 6, 9, pr.

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ZANJA

Span. A water ditch or artificial canal, and particularly one used for pur- fiposes of irrigation. See Pico y. Colimas, 32 U Cal. 578.

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ZANJERO

Span. A water commissioner or superintendent, or supervisor of an ir-Prigation system. See Pico v. Colimas, 32 Cal. 578.

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ZEAXOT

This word is commonly taken in a bad sense, as denoting a separatist from _the Church of England, or a fanatic. Brown.

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ZEALOUS WITNESS

An untechnical term denoting a witness, on the trial of a cause,who manifests a partiality for the side calling him, and an eager readiness to D tellanything which he thinks may be of ad- vantage to that side.

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ZEIB

O. Sc. Year. “Zeir and day.” Bell.

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ZETETICK

Proceeding by inquiry. Enc. Lond.

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ZIGARI, or ZINGARI

Rogues and vagabonds in the middle ages; from Zigi, nowCircassia.

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ZOLL-VEREIN

A union of Germanstates for uniformity of customs, established in 1819. It continued until the unificationof the German empire, including Prussia, Saxony, Bavaria, Wurtemberg, Baden, Hesse-Cassel, Brunswick, and Meckienburg-Strelitz, and all intermediate principalities. It hasnow been superseded by the German empire; and the federal council of the empire hastaken the place of that of the ZoR-Verein. Wharton.

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ZYGOCEPHALUM

In the civil law. A measure or quantity of land. Nov. 17, c. 8. Asmuch land as a yoke of oxen could plow in a day. Calvin.

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ZYGOSTATES

In the civil law. A weigher; an officer who held or looked to thebalance in weighing money between buyer and seller; an officer appointed to determinecontroversies about the weight of money. Spelman.

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ZEQUITAS SUPERVACUA ODIT

Equity abhors superfluous things. Lofft, 282.

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