An item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition. For example, the deposit by a borrower with the lender of funds to pay taxes and insurance premiums when they become due, or the deposit of funds or documents with an attorney or escrow agent to be disbursed upon the closing of a sale of real estate.

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Goodhart Law

The Goodhart Law is a law developed by Professor Charles Goodhart (who has also served as a member of the Monetary Policy Committee) that says "that any observed statistical regularity will tend to collapse once pressure is placed on it for control purposes". In other words if a relationship between two variables is observed, and the government then try to use this relationship as a policy tool, t ...

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