Term of The Day

Definition of ‘Gazump’

The practice of raising the price of a previously agreed-upon real estate transaction. A gazump refers to a situation where a seller and buyer of a piece of real estate (such as a parcel of land or a house) have in place a verbal agreement regarding price, but where the price is suddenly raised shortly before or at the signing. This sudden increase in price is a gazump, and while the procedure typically falls within the boundary of the law, it is often considered an unethical practice in real estate.

Definition of ‘Spoofing’

A type of deception where an intruder attempts to gain unauthorized access to a user’s system or information via pretending to be the user. In email spoofing (or phishing), the user receives an email that appears to be from a legitimate source but actually it is sent by someone else. The main purpose is to trick the user into releasing sensitive information such as passwords, so that the malicious spoofer can continue to pretend to be the user and use his or her accounts.
Read more: http://www.investopedia.com/terms/s/spoofing.asp

Definition of ‘Yellow Knight’

A company that was once making a takeover attempt but ends up discussing a merger with the target company. Yellow knights have various reasons for backing out of the takeover attempt, but frequently are attributable to the target company’s ability to fend off takeover. The “yellow” in “yellow knight” may refer to the color’s association with cowardice. Since a yellow knight backs down from a takeover attempt and retreats to merger discussions, a yellow knight may be viewed as weak.
Read more: http://www.investopedia.com/terms/y/yellowknight.asp%20?utm_source=term-of-the-day&utm_medium=Email&utm_campaign=TOD-4/6/2013-LI

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