Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Discrepancy

Law; Contracts

Non-compliance with the terms or requirements of an agreement or contract.

Depletion

Law; Contracts

In taxation, a principle that allows the owner of a natural resource such as oil or gas to recover the capital cost of the property as the resource is used up.

Type of contract (1) whose execution or performance depends on a contingency or an uncertain (random) event beyond the control of either party, and/or (2) under which the sums paid by the parties to ...

Alternative contract

Law; Contracts

Type of contract that can be executed or performed in more than one ways, the performing party usually having the discretion to choose. Opposite of certain contract.

Ambiguous

Law; Contracts

Unclear or uncertain. An ambiguous phrase is one that is not easy to understand, and often could be interpreted different ways. Something ambiguous can occasionally be deceptive, either intentionally ...

Ancillary guaranty

Law; Contracts

Performance bond or other type of guarantee in which the guarantor effectively becomes a co-signatory to the underlying contract. And, unlike in a demand guarantee (standby letter of credit), the ...

Agreement

Law; Contracts

A negotiated and usually legally enforceable understanding between two or more legally competent parties. Although a binding contract can (and often does) result from an agreement, an agreement ...