Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Letter of indemnity

Law; Contracts

A written undertaking by a third party (such as a bank or insurance company), on behalf of one of the parties (the first party) to a transaction or contract, to cover the other party (the second ...

Lienor

Law; Contracts

Creditor or party that holds a mortgage or a legally enforceable right (lien) on a specific asset, good, or property of another (the 'lienee') as a security for a debt or to satisfy a claim. Also ...

Letter of agreement

Law; Contracts

Written list of goods, services, or space to be provided at the agreed-to prices, terms, and time. It becomes a binding contract when signed by the associated parties.

Lienee

Law; Contracts

Debtor or party on whose assets or property a lien is being held by a creditor or claimant (the 'lienor'). Also called lienholder.

Negotiation

Law; Contracts

1. General: Bargaining (give and take) process between two or more parties (each with its own aims, needs, and viewpoints) seeking to discover a common ground and reach an agreement to settle a ...

Naked contract

Law; Contracts

Agreement without a consideration, hence just a promise. Naked agreements (unless made by a deed) are not binding in law, and are called 'nudum pactum' (Latin for, naked contract) governed by the ...

Method of obtaining bids under which only chosen suppliers are invited to negotiate a contract. This procedure is used usually in special cases such as in situations of extreme-urgency or where other ...