Glossary of Debt Related Terms

Keene's Cement

An unusually tough and durable gypsum plaster to which alum has been added. Used primarily for walls of commercial buildings.

Keogh Plan

A retirement plan whereby a self-employed person may set aside a certain portion of income (tax deferred) into a retirement account. The money is taxable upon withdrawal at retirement when the person's tax bracket is often lower.

Keyman Insurance

Insurance through loss (through death or disability) of a "key" (important) person in a company. The liability is the estimated cost of the loss (in business lost, and replacement of the individual). Some lenders require this insurance before lending to small companies which rely on one or a few "key" people.

Knock Down

Any parts of a building which can be easily assembled, installed, or removed, such as certain types of window frames, partitions, etc.

Knot

(1)The hard, irregular shaped defects in boards, caused by cutting at the point where the branch of the tree meets the trunk. (2) A measure of speed, equal to one nautical mile (approximately 6,076 ft.) per hour.