Capacity Of Parties
Definition of "Capacity of parties"
Legal competence of parties to be held responsible for the terms of a contract or to be brought into the courts. Those who are under the legal age, are mentally incompetent, or under the influence of a substance do not have legal capacity.
Popular Real Estate Terms
Term given to two depreciation systems defined by the Internal Revenue Service: The main system is called the General Depreciation System (GDS). Under GDS, most property is assigned to ...
One-story house with a low pitched roof often having an open floor plan. ...
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Partnership agreement where the parties consent to purchase the interest of those leaving the partnership while those leaving similarly consent to sell their interests to agreement for a ...
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