Definition of "Contract"
Agreement between two or more individuals whereby each party agrees to do or not to do some act. The parties have reciprocal obligations of performance or actions.
Popular Real Estate Terms
Partial fulfillment. Pro tanto is normally used in relation to the partial satisfaction of a claim. For example, a pro tanto settlement in an eminent domain action will not prejudice any ...
See effective tax rate. ...
The definition of abatement is a reduction of penalties or a tax deduction for individuals or businesses. It can often be accessed upon an overpayment of taxes, if the company or individual ...
A lien against all of the property of a debtor. A general lien may be obtained either through a judgment lien, where the court issues a judgment, a lien by creditors on a state, or through ...
Danger, hazard, risk, or peril. For example, jeopardizing a piece of property by pledging it as collateral for a loan. ...
Relationship between individuals or entities whereby rights given to one are returned in kind to the other. An example is where one person has the right to use facilities of another with ...
Certificates that pass-through principal and interest payments to investors. ...
Type of property distribution occurring when a person dies intestate. The estate id divided by the children of the deceased and by their children. For example, if a husband dies intestate, ...
Conifer wood, such as pine and redwood. ...
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