Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Rescind

Law; Contracts

To invalidate an order by depriving it of the authority behind it, or a contract by restoring both parties to the pre-contract status quo as if there was no contract.

A section found in real estate contracts which grants transfer of property ownership with no restrictions. The owner of a property with such a clause is considered to have absolute ownership, and may ...

Firm offer

Law; Contracts

Irrevocable, written, and signed offer regarding the sale or purchase of specified goods or services at specified prices, and valid for a specified period. If no closing or expiration date is ...

Financial guarantee

Law; Contracts

Non-cancelable indemnity bond that guarantees timely payment of interest and repayment of principal to the buyers (holders) of a debt security. Similar to under a standby letter of credit, the ...

Firm order

Law; Contracts

Order that is not subject to cancellation until a specified expiration date. Firm orders without any expiration date are deemed to expire automatically 30 days after the date of offer. Also called ...