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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

executory cost

Law; Contracts

Expense incurred in servicing an executory contract. Insurance and maintenance costs, and property taxes incurred on a leased property, are examples of such costs.

executory contract

Law; Contracts

Contract under execution, or where one or more parties have not yet performed their duties as stipulated in the contract document. An ongoing lease agreement is an executory ...

executory consideration

Law; Contracts

Something given or accepted in return for a promise, where the promised act remains to be performed on a future date. See also executed consideration.

executed contract

Law; Contracts

1. A contract document signed by all parties to it. 2. A contract performed fully as stipulated in the contract document.

executed agreement

Law; Contracts

Properly signed agreement that requires no additional steps for its execution.

executed consideration

Law; Contracts

Something given or accepted in return for a promise whose promised act has been performed. See also executory consideration.

exclusive right to sell listing

Law; Contracts

Formal agreement under which a real estate agent has the sole right to sell a specified property, usually within three months. During this period the seller cannot list the ...