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quid pro quo

 
Dictionary: quid pro quo   (kwĭd' prō kwō') pronunciation
n., pl., quid pro quos, or quids pro quo.
An equal exchange or substitution.

[Latin quid prō quō : quid, something + prō, for + quō, ablative of quid, something.]


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Wordsmith Words: quid pro quo
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(KWID pro kwo)

noun, plural quid pro quos or quids pro quo
Something given or taken in exchange for something else.

Etymology
From Latin quid (what) pro (for) quo (what), something for something.

Usage
"As is now known, `back-channel' negotiations achieved a quid pro quo. In return for Russian offensive missiles not being placed in Cuba, President Kennedy would remove Jupiter missiles from Turkey and promise not to topple Fidel Castro's communist regime militarily." — Ronald H Carpenter, When the Right Words Counted, Naval History (Annapolis, Maryland), Oct 2001.


Investment Dictionary: Quid Pro Quo
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A Latin phrase meaning "something for something". This term is typically used in financial circles to describe a mutual agreement between two parties in which each party provides a good or service in return for a good or service.

Investopedia Says:
Quid pro quo agreements are sometimes viewed negatively. For example, in a quid pro quo agreement between a large financial house and a company, the financial house might alter poor stock ratings in exchange for company business. In response to these potential occurrences, the NASD has issued rules in order to ensure that firms put customers’ interests before their own.

A positive example of a quid pro quo agreement is a soft dollar agreement. In a soft dollar agreement, one firm (Firm A) uses another firm’s (Firm B) research. In exchange, Firm B executes all of Firm A's trades. This exchange of services is used as payment in lieu of a traditional, hard dollar payment.

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In general: from the Latin, meaning "something for something." By mutual agreement, one party provides a good or service for which he or she gets another good or service in return.

Securities industry: arrangement by a firm using institutional research that it will execute all trades based on that research with the firm providing it, instead of directly paying for the research. This is known as paying in Soft Dollars.

Idioms: quid pro quo
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An equal exchange or substitution, as in I think it should be quid pro quo--you mow the lawn and I'll take you to the movies. This Latin expression, meaning "something for something," has been used in English since the late 1500s.


Law Dictionary: Quid Pro Quo
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Lat: what for what; something for something; in some legal contexts, synonymous with consideration, see 209 S.W. 2d 249; sometimes referred to simply as the quid and always indicating that which the party receives or is promised in return for something he promises, gives, or does, e.g., a defendant's willingness to testify for the state may be the quid pro quo for the government's willingness to accept a plea of guilty to a lesser offense.

Latin Phrase: Quid Pro Quo
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One thing for another; something for something

Wikipedia: Quid pro quo
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Quid pro quo (From the Latin meaning "something for something")[1] indicates a more-or-less equal exchange or substitution of goods or services. English speakers often use the term to mean "a favor for a favor" and the phrases with almost identical meaning include: "what for what," "give and take," "tit for tat", "this for that", and "you scratch my back, and I'll scratch yours".

Contents

Legal usage

In legal usage, quid pro quo indicates that an item or a service has been traded in return for something of value, usually when the propriety or equity of the transaction is in question. For example, under the common law (except in Scotland), a binding contract must involve consideration: that is, the exchange of something of value for something else of economic value. If the exchange appears excessively one sided, courts in some jurisdictions may question whether a quid pro quo did actually exist and the contract may be void by law.[2]

Another set of examples arises when an exchange is prohibited by public policy. Where prostitution is illegal, it remains common and lawful to use gifts, expensive meals and so on, as a means of attracting a sexual partner. The distinction is whether sexual favors are directly conditional on receiving gifts and vice-versa. In the absence of such a quid pro quo, there is no prostitution. Similarly, political donors are legally entitled to support candidates that hold positions with which the donors agree, or which will benefit the donors. Such conduct becomes bribery only when there is an identifiable exchange between the contribution and official acts, previous or subsequent, and the term quid pro quo denotes such an exchange. The term may also be used to describe blackmail, where a person offers to refrain from some harmful conduct in return for valuable consideration.

The term is also widely used to denote a type of sexual harassment in two variations, one of which answers to bribery and the other to blackmail. In the former case, unwarranted advancement is offered in return for sexual favors. In the second, deserved advancement, or simple continuation in service, is conditional on sexual receptivity. Quid pro quo makes the situation of a boss asking a subordinate for sex, or vice-versa, repugnant to the law.

Other meanings

Quid pro quo may less commonly refer to something (originally a medicine) given or used in place of another.

Quid pro quo may sometimes be used to define a misunderstanding or blunder made by the substituting of one thing for another, particularly in the context of the transcribing of a text.[3]

Quid pro quo may sometimes be described as the idiom,"You scratch my back and I'll scratch yours". In legislative contexts, it may take the form of vote trading. It may also describe the reverse situation, for example when a donor expects something in return later.

Quid pro quo is often used as a term in England to mean 'What's in it for me?'

Quid Pro Quo was an Internet server package for Classic MacOS.

The word Quid is a British slang term for a unit/units of the currency Pound Sterling (e.g., Twenty Pounds/ Twenty Quid) and is believed to come from the phrase Quid pro quo, referring to currency as a means of exchange.

Related phrases

The phrase qui pro quo, or quiproquo (from medieval Latin: literally qui instead of quo) is common in languages such as Italian, Portuguese, Spanish and French, where it means a misunderstanding.[4]

In those languages, the phrase corresponding to the usage of quid pro quo in English is do ut des (Latin for "I give, so that you may give").

See also

Notes

  1. ^ Merriam-Webster, the American Heritage Dictionary of the English Language (Fourth Edition), and the New Dictionary of Cultural Literacy (Third Edition)[1] all so define the Latin expression.
  2. ^ One such example is "section 2-302 of the Uniform Commercial Code". http://www.law.cornell.edu/ucc/2/article2.htm#s2-302. 
  3. ^ "Blunder made by using or putting one thing for another (now rare)" – Concise Oxford Dictionary, 4th edition, 1950.
  4. ^ Qui pro quo used to refer to a copying mistake made by a scribe, qui being the nominative case and quo the ablative case of the same personal pronoun. Further information may be found in the AWADmail Issue 49.

Best of the Web: quid pro quo
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Some good "quid pro quo" pages on the web:


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Copyrights:

Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved.  Read more
Wordsmith Words. © 2009 Wordsmith.org. All rights reserved.  Read more
Investment Dictionary. Copyright ©2000, Investopedia.com - Owned and Operated by Investopedia Inc. All rights reserved.  Read more
Financial & Investment Dictionary. Dictionary of Finance and Investment Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more
Idioms. The American Heritage® Dictionary of Idioms by Christine Ammer. Copyright © 1997 by The Christine Ammer 1992 Trust. Published by Houghton Mifflin Company. All rights reserved.  Read more
Law Dictionary. Law Dictionary. Copyright © 2003 by Barron's Educational Series, Inc. All rights reserved.  Read more
Answers Corporation Latin Phrase. © 1999-2009 by Answers Corporation. All rights reserved.  Read more
Wikipedia. This article is licensed under the Creative Commons Attribution/Share-Alike License. It uses material from the Wikipedia article "Quid pro quo" Read more