Glossary of Terms
Bankruptcy / Proposal / Financial Glossary |
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| There are 3 entries in the glossary. | |
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| Term | Definition |
| quantum | Amount. |
| Quit Claim | A deed releasing interest in real property. Sometimes, when a Trustee has real property vested in him pursuant to the bankruptcy and there is no equity in that property, he may quit claim it to the mortgage holder, thereby saving the mortgage holder time and expense. The Trustee should charge the mortgage holder for executing this deed. |
| quorum | Under the Bankruptcy and Insolvency Act there must be one person present, either in person or by proxy, at a meeting of creditors before the meeting is considered to be a properly constituted one and hence can carry on with the business of the meeting. |
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