Terms with Tag Contract
- Promissory Note (PN) — Acronym,
- A written promise to repay a loan by a specified time.
- Property Report — Definition,
- A legal document prepared by a surveyor that shows the locations of all visible public and private improvements relative to property boundaries.
- A legal disclosure that developers of timeshare properties are required to give to prospective buyers.
- Proprietary Information Agreement (PIA) — Acronym,
- A contract that disallows one or more parties from disclosing information covered by the contract.
- Proprietor — Definition,
- The owner of a business or property.
- Province of Domicile — Definition,
- The province where an individual lives or intends to live permanently or for a long term, regardless of the individual's current location.
- Purchase and Sale Agreement (P&S, PSA) — Acronym, ➥ The contract between a buyer (vendee) and a seller (vendor) of real estate in which the buyer agrees to purchase the property according to the terms, conditions, and covenants contained therein.
- Quantum Meruit — Definition,
- Used in contract law it means "reasonable value of services."
- Real Estate Attorney — Definition,
- A lawyer who specializes in the transfer of land and buildings and property tax issues.
- Receivership — Definition,
- A form of bankruptcy where a person is appointed to take control of a company and is responsible for recouping unpaid debts.
- Reconveyance — Definition,
- The transfer of title to the borrower after a mortgage has been paid fully.
- Renewable Term — Definition,
- An insurance policy that is can be renewed without needing the policyholder to re-qualify for insurance coverage.
- Rental Agreement (RA) — Acronym, Important,
- A document that states the terms and conditions for tenancy of a dwelling.
- Repossession — Definition,
- The taking back of property after a borrower has stopped making payments.
- Rescission — Definition,
- Cancellation of a contract by agreement of the parties.
- Resident Alien — Definition,
- A person who is a legal permanent resident, but not a citizen, of Canada.
- Residential Service Contract (RSC) — Acronym, ➥ Home warranty covering plumbing, electrical and mechanical systems.
- Reverse Takeover — Definition,
- The purchase of a public company by a private company, often to avoid the IPO process.
- Rider — Definition,
- Additional insurance coverage that can added onto another insurance policy.
- Right of First Refusal — Definition,
- An agreement by an owner to give another party an opportunity to buy the property before it is offered to anyone else.
- Royalty Income — Definition,
- Payment for the use and exploitation of certain kinds of property, such as artistic or literary works, patents and mineral rights.
- Sale Agreement (SA) — Acronym,
- (Agreement of Sale}
➥ More commonly known as Agreement of Sale (AOS). - Sale and Repurchase Agreements (SRAs) — Abbreviation,
- Sales and Purchase Agreement (SPA) — Acronym,
- A formal legal document or contract between the buyer and seller stating the terms and conditions upon which a real property will be sold.
- Sales Contract — Definition,
- A legal written document that details the agreed upon conditions between a seller and a buyer regarding the sale of a specific property. Also called an "Agreement of Sale."
- Seasonal Unemployment — Definition,
- The loss of jobs due to changes in the climate and other conditions. Forestry, fishing and construction are affected by climate, while retailing is affected by seasons and holidays. For instance, at Christmas, retail employment is higher than in January.
- Service Contract Number (SCN) — Acronym,
- Settlement — Definition,
- An agreement between the parties of a legal case.
- Settlement Statement — Definition,
- A document that details who has paid how much to whom.
- Share Certificate — Definition,
- A certificate of deposit issued by a credit union that pays a specific dividend if held for a specific period. It's the credit union equivalent of a certificate of deposit. A penalty is usually assessed if all or any of the principal is withdrawn before maturity.
- Sole Proprietorship — Definition,
- A business owned by an individual where no legal distinction is made between the business and the owner.
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Promissory Note -
Renewable Term
Renewable Term
