Glossary entry (derived from question below)
English term or phrase:
Promissory Quota
English answer:
a promissory agreement to assign a quota
Added to glossary by
Charles Davis
Feb 7, 2013 00:43
11 yrs ago
1 viewer *
English term
Promissory Quota
English
Bus/Financial
Business/Commerce (general)
Could you please give me the definition or equivalent term to it?
Context:
"..and (ii) a Promissory Quota Assignment Agreement by and between the Corporation and..."
Thank you very much!
Context:
"..and (ii) a Promissory Quota Assignment Agreement by and between the Corporation and..."
Thank you very much!
Responses
4 +2 | a promissory agreement to assign a quota |
Charles Davis
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Change log
Feb 21, 2013 08:48: Charles Davis Created KOG entry
Responses
+2
8 hrs
Selected
a promissory agreement to assign a quota
"Promissory" qualifies "agreement", not "quota": in other words, this expression does not refer to a "promissory quota", but to a "promissory agreement", which is a kind of contract in which one party promises to do something in the future in return for consideration.
"Quota assignment" tells us what sort of agreement this is: it is an agreement to assign a quota. A quota means a share of something. In principle it could be, for example, a production quota or an import quota, but it probably refers to shares (stock) in a company. To "assign" means to transfer ownership. So this is a quota assignment agreement (QAA), an agreement to transfer ownership of (probably) company shares. But it is a promissory QAA, not a definitive QAA, so this agreement does not actually transfer ownership of the quota or shares; it embodies a promise or undertaking by one party to assign a quota to the other party at some point in the future.
"Quota assignment" tells us what sort of agreement this is: it is an agreement to assign a quota. A quota means a share of something. In principle it could be, for example, a production quota or an import quota, but it probably refers to shares (stock) in a company. To "assign" means to transfer ownership. So this is a quota assignment agreement (QAA), an agreement to transfer ownership of (probably) company shares. But it is a promissory QAA, not a definitive QAA, so this agreement does not actually transfer ownership of the quota or shares; it embodies a promise or undertaking by one party to assign a quota to the other party at some point in the future.
4 KudoZ points awarded for this answer.
Comment: "Selected automatically based on peer agreement."
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