What Are Treble Damages? Treble damages are punitive financial compensation awarded by a court to a plaintiff for up to three times the value of the original judgment. Treble damages are provided for by law in certain types of lawsuits. In those circumstances, if the court rules in a plaintiff’s […]
What Are Nonparametric Statistics, Tests, and Data? Nonparametric statistics, tests, and methods make statistical inferences without regard to prescribed models or any underlying distribution. Nonparametric statistics are statistical methods in which data do not come from specified models determined by a small number of parameters. For example, the normal distribution […]
What Is Garden Leave in an Employment Contract? Garden leave is an employment practice where an employee who gives notice is paid during the notice period, but required to stay away from the workplace. Garden leave is a period of time during which an employee remains away from work or […]
What Is Unencumbered? Unencumbered is used to describe an asset or property that is free and clear of creditor claims, judgments, liens. mortgages, or obligations. If a person is unencumbered, they are free of baggage. As a result, they don’t have anything to carry or they are emotionally carefree. Similarly, […]
What is a Banking Relationship vs Relationship Banking? You need to have a banking relationship, especially if you’re an entrepreneur or business owner. Having a good bank is key to running a successful business. From getting a loan or line of credit to getting help with invoices and tax season, […]
What Is a Dealer Market? A dealer market is a financial market where dealers list prices they are willing to purchase and sell specific assets for their own account. Dealers add liquidity and act as market makers. The dealer market is sometimes known as an OTC market (over-the-counter). This means […]