Illegal Agreement

Collusion
Collusion involves seeking to prejudice a third party or achieve an improper purpose, often by secret agreement, that is typically punishable as conspiracy.
In Pari Delicto
A legal doctrine meaning 'equally at fault', where neither party in an illegal contract or transaction is able to obtain legal relief if both parties are equally culpable. Exceptions exist if the parties are not equally at fault.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.