Contracts

Contracts

Contracts of all sorts.

Contributors in Contracts

Contracts

An extension of the coverage period on a standard warranty. With an extended warranty, the consumer is able to extend the time that the producer is liable to pay for covered incidents. Consumers are ...

Express authority

Law; Contracts

Actual, distinctly stated (not implied) specific, authority given by a delegator or principal to his or her delegatee or agent, through oral or written, or partly-oral and partly-written, words. See ...

Extension clause

Law; Contracts

Provision in a contract that allows the contracting parties the option of continuing the contract after its stated expiration date.

Express contract

Law; Contracts

Contract whose terms are clearly spelled out, usually in writing. Opposite of implied contract.

Escape clause

Law; Contracts

Provision in a contract which, under specified conditions, allows a party to withdraw from the agreement or to change its conditions.

Escalation clause

Law; Contracts

1. Construction: Provision in a contract for increasing or decreasing the contracted price for labor, material, etc., in step with the market prices or an agreed upon benchmark such as consumer price ...

Entity purchase agreement

Law; Contracts

A method used in business succession planning whereby if a company consists of more than just one owner, it will purchase life insurance policies on the lives of all such owners for the amount of ...