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Law

Of or pertaining to the system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties.

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Law > Contracts

ambiguous

Law; Contracts

Unclear or uncertain. An ambiguous phrase is one that is not easy to understand, and often could be interpreted different ways. Something ambiguous can occasionally be deceptive, ...

ancillary guaranty

Law; Contracts

Performance bond or other type of guarantee in which the guarantor effectively becomes a co-signatory to the underlying contract. And, unlike in a demand guarantee (standby letter ...

anticipatory avoidance

Law; Contracts

Unilateral repudiation by a party of its obligations when a fundamental breach of the contract by the other party is imminent.

anticipatory repudiation

Law; Contracts

This is an alternative term for anticipatory breach.

anticipatory breach

Law; Contracts

Unequivocal repudiation of a contract, before the commencement of its performance. An anticipatory breach gives the aggrieved party an immediate legal right to sue for damages as ...

apparent authority

Law; Contracts

Legal concept that (in agency agreements) a principal is liable for the acts of the agent if the principal (by his or her actions or by a failure to act) gives an impression to a ...