An agreement is a mutual understanding between two or more competent parties that creates a commitment or an obligation, often forming the basis for a contract.
A call option is a financial contract that gives the holder the right, but not the obligation, to buy a specified amount of an underlying asset at a predetermined price within a fixed timeframe.
In financial and legal contexts, 'cancel' refers to the act of voiding a negotiable instrument by annulling or settling it, prematurely terminating a bond or other contract, or voiding an order to buy or sell securities.
A contract is a legally binding agreement that arises from an offer and acceptance, meeting certain legal criteria and compliance for enforceability.
A covenant is a legally-binding promise made in a deed that can be enforced as a contract. It often involves agreements or restrictions related to financial obligations or land use.
An extension refers to an agreement between two parties to extend the time period specified in a contract. In the context of taxation, an extension provides an additional period of time to file an income tax return.
Force majeure refers to unforeseen and unavoidable events that prevent or delay the fulfillment of contractual obligations.
A job lot is a form of contract authorizing the completion of a particular order size, particularly related to a production run dictated by a job order.
A Letter of Intent (LOI) is a document outlining the preliminary commitment of one party to do business with another. The LOI can be used as a means to formalize discussions that may culminate in a final agreement. It includes terms and conditions of the planned transaction.
A document that sets out the main terms of an agreement between two or more parties and their intention to enter into a binding contract once certain details have been finalized. While not a formal contract itself, certain provisions can be enforceable.
Negotiation is the process of bargaining that precedes an agreement between parties. It often results in a contract and can involve various stages and techniques to reach a mutually beneficial outcome.
An obligation is a commitment undertaken by a person or entity to adhere to the conditions defined in a contract or to repay a specified debt.
An offer is a clear proposal to sell or buy goods or services at a specified price, creating a legally binding contract upon acceptance.
A pledge involves the deposit of personal property as security for a debt, typically entailing the delivery of goods by a debtor to a creditor until the debt is repaid. It is commonly defined as a lien or a contract that mandates the transfer of personal property only as security.
A multifaceted concept in finance and legal agreements, referring to either the period during which conditions of a contract will be carried out or the specific provisions within an agreement.
