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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.
6Categories 16551Terms
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Real estate > Contracts 
limited guarantee
Law; Contracts
Written undertaking to fulfill a specific obligation. Also called specific guarantee.
limited occupancy agreement
Law; Contracts
An arrangement that allows a person to occupy a property for an agreed-upon length of time given certain conditions that must be met. A limited occupancy agreement may be used by ...
loss of bargain rule
Law; Contracts
Legal rule that damages paid to the aggrieved party in a breach of contract case should be sufficient in amount to put that party in a position it would have been had the breach ...
lost profits
Law; Contracts
Method of estimating damages in which a seller is compensated for the profit not realized due to a breach of contract by a buyer.
lowest responsible bidder
Law; Contracts
Qualified bidder with the lowest or best bid price, and whose business and financial capabilities, past performance, and reputation meet the required standards.
lump sum bid
Law; Contracts
Single bid that covers (without providing a cost breakdown) all cost, such as for equipment, labor, material, overheads, and services. It also includes the contractor's fee ...
Sub-categories
- Commercial (226)
- Contracts (13098)
- Corporate (746)
- Home improvement (1576)
- Mortgage (522)
- Residential (169)