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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

impossibility of performance

Law; Contracts

1. UK: Impossibility is generally not an excuse for performance of a contract, and the obligor is liable for damages. However, if an event (beyond the control of either party) ...

implosion of bill of materials

Law; Contracts

Process in which the requirements of a top-level or higher-level object or plan are determined from the consolidated requirements of the lower-level (sub) objects or plans. For ...

impracticability

Law; Contracts

Situation where the performance of a duty (although not impossible) becomes excessively more difficult or expensive than it could have been anticipated. See also impossibility.

incentive contract

Law; Contracts

An alternative term for incentive type contract.

incentive-type contract

Law; Contracts

Fixed price or cost reimbursement contract in which a target cost, price, or fee (profit) is used as a point of departure for various monetary-incentives (subject to a maximum ...

inchoate contract

Law; Contracts

Not yet executed by all the contracting parties.

incumbency certificate

Law; Contracts

An official document that identifies and authorizes certain individuals to execute binding agreements on behalf of the corporation. The certificate acts as confirmation that the ...