contracting party
Definition
Entity who enters into a binding agreement with one or more other contracting parties and thus accepts the benefits and obligations specified therein. For a contract to be valid, every contracting party to a contract must be a competent party.
contracting party is in the Agreements & Contracts and Corporate, Commercial, & General Law subjects.
contracting party appears in the definitions of the following terms:
open contract,
collateral contract,
front end specifications,
restitutio in integrum,
closed contract,
indivisible contract,
memorandum of understanding (MOU),
certainty of terms,
affirmation of contract,
extension clause
and
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