term
Definition 1
Fixed period for which a loan, insurance policy, or bond is issued, a time or fixed deposit is made, or a contract lasts.
Definition 2
Clause or provision that constitutes a substantive part of a contract and may create a contractual obligation breach of which could be cause for legal action. Depending upon its importance, a term may either be a condition (essence of a contract) or a warranty (material part of a contract). A term may either be an express term (clearly and directly stated) or an implied term (inserted by the courts or a statute).
term is in the Agreements & Contracts and Corporate, Commercial, & General Law subjects.
term appears in the definitions of the following terms:
general contract provisions,
contingent financing clause,
market position,
cost reimbursement contract,
doctrine of equivalents,
accounting concepts,
constructive total loss (CTL),
wrongful dismissal,
letter of agreement,
integrated mill
and
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