Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Limitation of damages clause

Law; Contracts

Provision under which the parties to a contract agree to a maximum amount recoverable as damages, in case either one of them is in breach of the contract.

Listing

Law; Contracts

1. Acceptance of a qualifying security for trading over a stock exchange. 2. Certification of an appliance, equipment, or supplies by an independent standards or testing organisation (such as ...

Limited guarantee

Law; Contracts

Written undertaking to fulfil a specific obligation. Also called specific guarantee.

Limitation of funds clause

Law; Contracts

Provision in 'cost-reimbursement' type contracts under which a contractor must issue a written notification to the principal (customer), when the estimated total cost of the project or work is ...

Limitation of cost clause

Law; Contracts

Provision in 'cost-reimbursement' type contracts under which a contractor must issue a written notification to the principal (customer), when the estimated total cost of the project or work is ...

Limited occupancy agreement

Law; Contracts

An arrangement that allows a person to occupy a property for an agreed-upon length of time given certain conditions that must be met. A limited occupancy agreement may be used by the buyer of a ...

Loss of bargain rule

Law; Contracts

Legal rule that damages paid to the aggrieved party in a breach of contract case should be sufficient in amount to put that party in a position it would have been had the breach not occurred.