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Real estate

Of or pertaining to property of land and the buildings on it. This also includes any minerals, crops, or any other natural resource. The business of real estate is the buying, selling, or renting property.

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Real estate > Contracts

letter of award

Law; Contracts

Written confirmation of an award of a contract by a customer (owner or principal) to a successful bidder, stating the amount of the award, the award date, and when the contract ...

letter of intent (LOI)

Law; Contracts

Interim agreement that summarizes the main points of a proposed deal, or confirms that a certain course of action is going to be taken. Normally, it does not constitute a ...

letter of indemnity

Law; Contracts

A written undertaking by a third party (such as a bank or insurance company), on behalf of one of the parties (the first party) to a transaction or contract, to cover the other ...

letter of refusal

Law; Contracts

Written statement obtained by a main or prime contractor from a subcontractor or vendor who is refusing to comply with some specific requirement of the contract. It must clearly ...

letter of interest (LOI)

Law; Contracts

1. Contracting: Written-response solicited from contractors or vendors through advertisements. It is often employed in pre-qualifying the respondents for specific services, based ...

liability without fault

Law; Contracts

This is an alternative term for strict liability.

leveraged lease

Law; Contracts

Three-party lease contract under which a lessor borrows some or most of the funds to finance the asset to be leased to a lessee. In this arrangement, (1) financing provided by the ...