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Fungibility
In economics and law, fungibility is the property of something whose individual units are considered fundamentally interchangeable with each other. For example, the fungibility of money means that a $100 bill (note) is considered entirely equivalent to another $100 bill, or to twenty $5 bills and so on, and therefore a person who borrows $100 in the form of a $100 bill can repay the money with another $100 bill, with twenty $5 bills and so on. Non-fungible items are not considered substitutable in the same manner, even if essentially identical. Fungibility is an important concept in finance and commerce, where financial securities, currencies and physical commodities such as gold and oil are normally considered fungible. Fungibility affects how legal rights, such as the ownership of assets in custody and the right to receive goods under a contract, apply in certain circumstances, and it thereby simplifies trading and custody. Fungibility refers only to the equivalence and i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security (finance)
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than equity and fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., equity warrants. Securities may be represented by a certificate or, more typically, they may be "non-certificated", that is in electronic ( dematerialized) or " book entry only" form. Certificates may be ''bearer'', meaning they entitle the holder to rights under the security merely by holding the security, or ''registered'', meaning they entitle the holder to rights only if they appear on a securi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quantum Superposition
Quantum superposition is a fundamental principle of quantum mechanics that states that linear combinations of solutions to the Schrödinger equation are also solutions of the Schrödinger equation. This follows from the fact that the Schrödinger equation is a linear differential equation in time and position. More precisely, the state of a system is given by a linear combination of all the eigenfunctions of the Schrödinger equation governing that system. An example is a qubit used in quantum information processing. A qubit state is most generally a superposition of the basis states , 0 \rangle and , 1 \rangle: : , \Psi \rangle = c_0, 0\rangle + c_1, 1\rangle, where , \Psi \rangle is the quantum state of the qubit, and , 0 \rangle, , 1 \rangle denote particular solutions to the Schrödinger equation in Dirac notation weighted by the two probability amplitudes c_0 and c_1 that both are complex numbers. Here , 0 \rangle corresponds to the classical 0 bit, and , 1 \r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Many-worlds Interpretation
The many-worlds interpretation (MWI) is an interpretation of quantum mechanics that asserts that the universal wavefunction is Philosophical realism, objectively real, and that there is no wave function collapse. This implies that all Possible world, possible outcomes of quantum measurements are physically realized in different "worlds". The evolution of reality as a whole in MWI is rigidly Determinism, deterministic and principle of locality, local. Many-worlds is also called the relative state formulation or the Everett interpretation, after physicist Hugh Everett III, Hugh Everett, who first proposed it in 1957.Hugh Everett]Theory of the Universal Wavefunction Thesis, Princeton University, (1956, 1973), pp. 1–140. Bryce DeWitt popularized the formulation and named it ''many-worlds'' in the 1970s. See also Cécile DeWitt-Morette, Cecile M. DeWitt, John A. Wheeler (eds,) The Everett–Wheeler Interpretation of Quantum Mechanics, ''Battelle Rencontres: 1967 Lectures in Mathema ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Deutsch
David Elieser Deutsch ( ; ; born 18 May 1953) is a British physicist at the University of Oxford, often described as the "father of quantum computing". He is a visiting professor in the Department of Atomic and Laser Physics at the Centre for Quantum Computation (CQC) in the Clarendon Laboratory of the University of Oxford. He pioneered the field of quantum computation by formulating a description for a quantum Turing machine, as well as specifying an algorithm designed to run on a quantum computer. He is a proponent of the many-worlds interpretation of quantum mechanics. Early life and education Deutsch was born to a Jewish family in Haifa, Israel on 18 May 1953, the son of Oskar and Tikva Deutsch. In London, David attended Geneva House school in Cricklewood (his parents owned and ran the Alma restaurant on Cricklewood Broadway), followed by William Ellis School in Highgate before reading Natural Sciences at Clare College, Cambridge and taking Part III of the Mathematica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oxford University
The University of Oxford is a collegiate research university in Oxford, England. There is evidence of teaching as early as 1096, making it the oldest university in the English-speaking world and the second-oldest continuously operating university globally. It expanded rapidly from 1167, when Henry II prohibited English students from attending the University of Paris. When disputes erupted between students and the Oxford townspeople, some Oxford academics fled northeast to Cambridge, where they established the University of Cambridge in 1209. The two English ancient universities share many common features and are jointly referred to as ''Oxbridge''. The University of Oxford comprises 43 constituent colleges, consisting of 36 semi-autonomous colleges, four permanent private halls and three societies (colleges that are departments of the university, without their own royal charter). and a range of academic departments that are organised into four divisions. Each college ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decree
A decree is a law, legal proclamation, usually issued by a head of state, judge, monarch, royal figure, or other relevant Authority, authorities, according to certain procedures. These procedures are usually defined by the constitution, Legislative Law, Legislative laws, or customary laws of a government. Belgium In Belgium, a decree is a law of a Communities, regions and language areas in Belgium, community or regional parliament, e.g. the Flemish Parliament. Catholic Church A decree (Ecclesiastical Latin, Latin: ''decretum'') in the usage of the canon law (Catholic Church), canon law of the Catholic Church has various meanings. Any papal bull, papal brief, brief, or motu proprio is a decree inasmuch as these documents are legislative acts of the pope. In this sense, the term is quite ancient. The Roman Congregations were formerly empowered to issue decrees in matters which come under their particular jurisdiction but were forbidden from continuing to do so under Pope Benedic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euroclear Belgium
Euroclear Belgium is one of three central securities depositories (CSDs) in Belgium, together with Euroclear Bank and NBB-SSS. It is the main CSD for Belgian securities other than government bonds. Both Euroclear Belgium and Euroclear Bank are fully-owned entities of the Euroclear Group, which is like them is headquartered in Brussels. Overview The Caisse Interprofessionnelle de Dépôts et de Virements de Titres / Interprofessionele Effectendeposito- en Girokas (), abbreviated as CIK, was initiated in 1967, and formally created by Belgian Royal Decree of . In 1999, CIK merged with the Brussels Stock Exchange and the Belgium Futures and Options Exchange (BELFOX, est. 1991) to form Brussels Exchanges, abbreviated as BXS. In 2000, BXS merged with its Dutch and French counterparts to form Euronext. In December 2004, Euroclear announce it would acquire CIK from Euronext, following its takeovers of Sicovam (France) in 2001, and Necigef (Netherlands) and CRESTCo (UK) in 2002. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Damages
At common law, damages are a remedy in the form of a monetary award to be paid to a claimant as compensation for loss or injury. To warrant the award, the claimant must show that a breach of duty has caused foreseeable loss. To be recognized at law, the loss must involve damage to property, or mental or physical injury; pure economic loss is rarely recognized for the award of damages. Compensatory damages are further categorized into special damages, which are economic losses such as loss of earnings, property damage and medical expenses, and general damages, which are non-economic damages such as pain and suffering and emotional distress. Rather than being compensatory, at common law damages may instead be nominal, contemptuous or exemplary. History Among the Saxons, a monetary value called a ''weregild'' was assigned to every human being and every piece of property in the Salic Code. If property was stolen or someone was injured or killed, the guilty person had to pay the w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Breach Of Contract
Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s), whether partially or wholly, as described in the contract, or communicates an intent to fail the obligation or otherwise appears not to be able to perform its obligation under the contract. Where there is breach of contract, the resulting damages have to be paid to the aggrieved party by the party breaching the contract. If a contract is rescinded, parties are legally allowed to undo the work unless doing so would directly charge the other party at that exact time. What constitutes a breach of contract There exists two elementary forms of breach of contract. The first is actual failure to perform the contract as and when specified constitutes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equitable Remedy
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VIII to provide more flexible responses to changing social conditions than was possible in precedent-based common law. Equitable remedies were granted by the Court of Chancery in England, and remain available today in most common law jurisdictions. In many jurisdictions, legal and equitable remedies have been merged and a single court can issue either, or both, remedies. Despite widespread judicial merger, the distinction between equitable and legal remedies remains relevant in a number of significant instances. Notably, the United States Constitution's Seventh Amendment preserves the right to a jury trial in civil cases over $20 to cases "at common law". Equity is said to operate on the conscience of the defendant, so an equitable remedy is always directed at a particular person, and that person's knowledge, state of mind and motives may be relevant to whether a remedy should b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Specific Performance
Specific performance is an equitable remedy in the law of contract, in which a court issues an order requiring a party to perform a specific act, such as to complete performance of a contract. It is typically available in the sale of land law, but otherwise is not generally available if damages are an appropriate alternative. Specific performance is almost never available for contracts of personal service, although performance may also be ensured through the threat of proceedings for contempt of court. An injunction, often concerning confidential information or real property, is a type or subset of specific performance and is one of the more commonly-used forms of specific performance. While specific performance can be in the form of any type of forced action, it is usually to complete a previously established transaction, thus being the most effective remedy in protecting the expectation interest of the innocent party to a contract. It is usually the opposite of a prohibitory ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
