Pro Tanto.

Pro tanto is a Latin phrase meaning “for so much”. It is used in law to indicate that a debt, obligation or other liability has been partially discharged. For example, if a debt of $100 is partially paid off with a payment of $50, the debt is said to be discharged pro tanto. What is … Read more

Deferred Profit Sharing Plan (DPSP) Definition.

A deferred profit sharing plan (DPSP) is a type of retirement savings plan in which an employer sets aside a portion of its profits each year to be shared among its employees. The employees do not contribute to the plan, but they may be required to participate for a certain number of years before they … Read more