Real estate

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

objective theory of contract

Law; Contracts

Modern (late 19th century) legal concept that a binding agreement exists between two (or more) parties if a reasonable person would judge (from the outward and objective acts of ...

obligee

Law; Contracts

Obliging party (bond holder, creditor, lender, insurance policy holder, etc.) in whose favor a promise is made or an obligation is entered into by an obligor, under the terms of ...

obligor

Law; Contracts

Obligated party (bond issuer, borrower, debtor, insurer, etc.) who has an obligation to repay a debt, make a payment, do something, or to refrain from doing something, under the ...

occupancy phase

Law; Contracts

Specific period, stipulated in a construction contract, that follows the construction phase. During this phase the contractor is required to ensure the equipment, material, and ...

of the essence

Law; Contracts

Principal requirement or a provision so important that, if it is not satisfied in a diligent manner, may constitute a breach of the contract. For example, time is said to be of ...