term contract definition
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lease term of a contract - the period of time during which a contract conveying property to a person is in effect. lease. period, period of time, time period - an amount of time; a time period of 30 years; hastened the period of time of his recovery; Picasso's blue period.
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What is a contract? A contract is a legally binding or valid agreement between two parties. The law will consider a contract to be valid if the agreement contains all of the following elements: 1  offer and acceptance; 2  an intention between the parties to create binding relations;
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Let's make your budget experience extraordinary The Budget Formulation and Execution Line of Business (BFELoB) supports the Federal budget community by examining commonalities and complexities in agency processes in order to improve business performance and reduce the cost of government.
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contract clause contract clause. Provision included in a written agreement or contract. A contract clause will address an aspect of the contract between parties, detailing the agreement to ensure all parties understand what is expected of the other. Use 'contract clause' in a Sentence.
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social contract social contract. noun so·cial contract. Legal Definition of social contract. : an actual or hypothetical agreement among individuals forming an organized society or between the community and the ruler that defines and limits the rights and duties of each.
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Diagnose and fix a pinched nerve in your neck A pinched nerve in the neck can cause pain, tingling, numbness and pins and needles feeling, as well as other strange sensations. It's possible that you might be experiencing a pinched nerve. It's in your best interest to see a doctor if the symptoms don't resolve themselves with rest, NSAIDs and a cold compress.
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Annuity Glossary Annuity Contract: A legal contract in which an insurer promises to make periodic payments to a designated individual over a specific period of time beginning on a set date in exchange for that individual's payment of premiums to the insurer.
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- DEFINITION of 'Term Sheet'. A non-binding agreement setting forth the basic terms and conditions under which an investment will be made. A term sheet serves as a template to develop more detailed legal documents.
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- A short term contract is any contract that is started and completed within a fiscal year. A long-term contract is any contract that is started in a fiscal year and is completed in another fiscal year. For instance.
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"Define the Real Estate Term ""Under Contract""" Under a contract, one party is bound to the other. The term “under contract” even applies to a real estate contract containing contingencies. A contingency is a condition or circumstance that must be met in order for the real estate contract to be valid. Many real estate contracts do contain contingencies.
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- Here are the steps to adding a DNS suffix on an Edge Server: 1  On the Edge Server, click Start, right-click Computer, and select Properties. 2  Under “Computer Name, Domain, and Workgroup” settings, click Change Settings. 3  On the Computer Name tab, click Change. 4  You should see the “Computer Name/Domain Changes” screen.
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Term Sheet: What Is It? Term Sheet: What Is It? A term sheet is something used in a business agreement. The sheet will outline the terms and conditions of the transaction or deal as proposed by the interested party. A term sheet is usually a preliminary look at a transaction, so it is not typically legally binding. This sheet usually uses bullets to identify important points of the business agreement. This bullet-point style is what makes a term sheet differ from a letter of interest.
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Contractual term Conditions are terms that go to the very root of a contract. Breach of a condition will entitle the innocent party to terminate the contract. A warranty is less imperative than a condition, so the contract will survive a breach. Breach of either a condition or a warranty will give rise to damages. It is an objective matter of fact whether a term goes to the root of a contract.
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Real Estate CHP 8- Contracts A contract is a voluntary, legally enforceable promise between two competent to perform (or not to perform) parties some legal act in exchange for consideration. 1  Voluntary agreement or promise. 2  Parties to the Contract. 3  Requirement of competency of parties. 4  1. 5  Age of Majority. 6  2.
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Contractual term Conditions are terms that go to the very root of a contract. Breach of these terms gives the right to repudiate the contract, allowing the other party to discharge the contract. A warranty is less imperative than a condition, so the contract will survive a breach. contractual term is Any provision forming part of a contract. Each term gives rise to a contractual obligation, breach of which can give rise to litigation.
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Contents: Agreement vs Contract Agreement vs. Contract. An agreement is any understanding or arrangement reached between two or more parties. A contract is a specific type of agreement that, by its terms and elements, is legally binding and enforceable in a court of law. Agreement versus Contract comparison chart.
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contract 1) n. an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration.
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Federal Subcontractor Law and Legal Definition A contract is a mutually binding legal. relationship obligating the seller to furnish the supplies or services and the buyer to pay for them. It includes all types of commitments that obligate the Government to an expenditure of. appropriated funds and that, except as otherwise authorized, are in writing.
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Contractual term Conditions are terms that go to the very root of a contract. Breach of these terms gives the right to repudiate the contract, allowing the other party to discharge the contract. A warranty is less imperative than a condition, so the contract will survive a breach. Breach of either a condition or a warranty will give rise to damages. It is an objective matter of fact whether a term goes to the root of a contract.
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- A contract creates legal obligations between two or more “parties” (individuals, businesses, institutions, etc) involved in the contract. Contracts are agreements to exchange something of value (usually goods or services) that are enforceable in court.he terms of the contract must be clear to be enforceable. 1  For example, you could write a contract with these terms: “Sujata agrees to sell her car to Jack for $5,500 on December 13, 2014.“ It is clear who is promising to do what, and when it is to be done.
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Contract Law Law and Legal Definition Contracts are agreements that are legally enforceable. A contract may involve a duty to do or refrain from doing something, and the failure to perform such duty is called a breach of contract.
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Contracts and Payments: Your Options When You Donât Have a Signed Contract A contract is an agreement, whether oral or written, whereby two parties bind themselves to certain obligations. Synonyms: agreement or letter of agreement (if the contract takes the form of a letter).
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What is a contract? An agreement, or a contract, says what you and the other person or organisation have agreed to do. It is a written list of the promises you have made. The best form of contract is written on paper and signed by each party.
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Employment contract terms Employment contract terms. A contract of employment is an agreement between the employer and employee and will contain some terms such as: Statutory terms: are imposed, varied or regulated by law such as the minimum statutory notice period.
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Consequences of a Breach of a Fixed-term Employment Contract for Employees A fixed-term employment contract is a legal agreement that an employer signs with what is known as a contract employee. It outlines specific duties, payment terms and the ending date, after which the employee leaves the company unless he is retained under a new contract.
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Non-Compete Agreements Florida Contract Law A contract is a mutually understood promise that contains an offer to perform a service or provide a product, an acceptance of the offer, and a show of faith (called a consideration) by giving each other some kind of service in return, payment of money or deposit.