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Definition
transfer of interest in a contract to a third party
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contract with a promise by each party
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Definition
those legally qualified to enter into contracts
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Definition
something of value given in exchange
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Definition
certain happening on which a contract depends
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Definition
agreement between two parties to perform some legal act(s)
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Definition
offer returned to buyer with changes by seller
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Definition
buyer’s deposit with purchase contract
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Definition
interest acquired by buyer with land contract
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Definition
protection for seller when buyer has another house to sell
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Definition
contract that has been fulfilled
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contract set down in so many words
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contract that has not yet been performed
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contract not put into words but shown by actions
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Definition
agreement under which buyer pays in installments and waits for deed
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Definition
sum agreed on to serve as damages in case of future default
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Definition
substitution of a new contract for an existing one
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contract binding one party; other party free to act or not
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Definition
convention that a written contract overrides spoken promises
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Definition
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Definition
court action usually asking that the seller be forced to sell as agreed
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Definition
law requiring certain contracts to be in writing
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law on time limit after which one cannot assert a legal right
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contract clause requiring punctual performance
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seemingly valid contract but neither party can sue to force performance
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one-sided promise, valid only if the other party acts
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Definition
contract that meets all legal requirements
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Definition
contract that does not meet all legal requirements
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Definition
contract that is binding, but one party may disaffirm it
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