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There are 20 entries in this glossary.
Term Definition
Dead-line (Échéance)
Debt (Dette)
The dept designates a right detained by a person known as the creditor toward another person known as the debtor. The debtor is the obliged of the creditor. The object of the debt consists of an obligation to either give or to refrain to give. A company debt is the financing mode that represents money offered at its disposal by its creditors which has the contractually fixed remuneration and repayment date.
Debt Ratio (Ratio d'endettement)
Debt capital divided by total assets. This ratio will show how much the company relies on debt to finance assets.
Declaration of Co-Ownership (Déclaration de copropriété)
The declaration of co-ownership divides the property into fractions. It includes the act constituting the co-ownership, the by-laws of the immovable and a description of the fractions. The constituting act of co-ownership specifies the relative value of each fraction, indicating how that value was determined. It also determines, as a function of the relative value, the contribution of each fraction to the common expenses of the immovable, the contingency fund established by law and the number of votes attached to each fraction. The constituting act defines the destination or purpose of the immovable, i.e. the use the owners may make of it, as well as the destination of the private and common portions. The act also sets out the powers and duties of the board of directors of the syndicate and the general meeting of co-owners. A detailed by-law stipulates rules on the enjoyment, use and upkeep of the private and common portions. The by-laws also contain rules for the operation and administration of the co-ownership, in particular, the composition of the board of directors and the conditions relating to the office of administrator. The description of the fractions contains the cadastral description of the private portions and the common portions of the immovable. It also contains a description of the real rights affecting or existing in favour of the immovable
Declared Rent (Loyer contractuel)
Rent paid by a lessee to the landlord as stipulated on a lease and linked to the use of the premises or part of them.
Deed of Sale or Bill of Sale (Acte de vente)
The real estate deed of sale designate the final contract of sale of a real estate by which a seller agrees to sell and a buyer agrees to buy, under certain terms and conditions spelled out in writing in the document signed by both parties. The transaction becomes public as it is inscribed in the Land Register of Québec.
Depreciation (Dépréciation)
A loss in property value from any cause.
Derogation (Dérogation)
The partial repeal of a law, usually by a subsequent act that in some way diminishes its original intent or scope. Derogation is distinguishable from abrogation, which is the total annulment of a law.
Detached Building (Bâtiment détaché)
Refers to a building which has no common wall.
Developer (Lotisseur)
Legal or physical person that improves tract of land with subdivided parcels, and arranges for utilities and services, in order to sell the parcels or to build structures for rent and/or sale.
Discontinuance (Désistement)
The voluntary termination of litigation by a plaintiff who has elected not to pursue it or by both parties pursuant to a settlement.
Discounted Cash Flows (Actualisation des flux monétaires)
Discounting is the calculation of the present value of a future sum. Discounting is thus the inverse to capitalisation. Discounting makes it possible to compare sums received or paid out at different dates. Discounting is calculated with the required rate of return of the investor. The discounting formula runs as follows: Pv = Fv / (1 + i)n Where: Vn = Future cash flow or value Pv = Present value i = Discount rate or Rate of return on capital per period n = Number of periods that payment shall be differed
Discounting of bills of exchange (Escompte de traite)
Discounting of bills of exchange is a financing transaction wherein a company remits an unexpired commercial bill of exchange to the bank in return for an advance of the amount of the bill, less interest and fees.
Divided Co-Ownership (Copropriété divise)
The law provides for two types of co-ownership: divided and undivided. Divided co-ownership, as the name implies, permits the division of a building into fractions. A fraction may belong to one or more persons. Each owner of a fraction has the exclusive ownership of a private portion of the immovable and has an undivided right of ownership, that is, a share proportionate to the relative value of his fraction, in the common portions of the immovable. The common portions belong to all the co-owners. Each owner of a fraction may hypothecate it (give it as security) to guarantee the repayment of the sums borrowed to purchase it. Each hypothec is separate. Condominium owners are not affected by a neighbour’s hypothecary difficulties.
Dividend (Dividende)
Dominant Tenement (Fonds dominant)
Where an easement is appurtenant, it will typically require the existence of two parcels of land, known as tenements. The dominant tenement is the land which benefits from an easement, while the servient tenement is the one which bears the burden of the easement.
Due Care (Diligence)
Degree of care that an ordinary and reasonable person would normally exercise, over his or her own property or under circumstances like those at issue. The concept of due care is used as a test of liability for negligence. Also called ordinary care or reasonable care.
Due Diligence Review (Vérification diligente)
A buyer or a successor has the right to have various areas of to the company verified by his own experts in order to determine if what the seller has said is true, if the goods are truly what he thinks he is buying, and if there are no hidden defects or lawsuits against the company, to name a few. The due diligence review usually covers the following areas: operations, intellectual property, goods, human resources, and the legal, accounting, tax, and environmental aspects.
Duties on transfers of immovables (Droit de mutation)
Duties on transfers of immovables is a tax collected by the municipality for the transfer of any immovable located within its territory under the provincial legislation. The rate of these duties is set as follows:  0,5% on that part of the basis of imposition which does not exceed $50,000  1% on that part of the basis of imposition which is in excess of $50,000 without exceeding $250,000  1,5% on that part of the basis of imposition which exceeds $250,000
Dwelling unit or Housing unit or Dwelling (Logement)
Place for housing purposes intended for a residential occupancy which is composed of a room or several adjoining rooms.
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