- A formal and binding agreement made in a contract or property deed.
legal contract, pledge, agreement
Related Terms and Acronyms
- Certificate of Sale — Definition,
- An affidavit issued at a judicial or tax sale that entitles the buyer to the deed to the property purchased after court confirmation.
- Contract — Definition,
- An agreement between two or more parties that can be enforced by law.
- Contract For Deed (CFD) — Acronym,
- An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made. Also called a land contract.
- Deed (D) — Acronym, Very Important,
➥ Used to transfer ownership of assets, often land or automobiles.
- A document that provides title to property and is filed with a country recorder.
- Guarantee — Definition,
- An enforceable warranty on the promise of quality of a product or formal promise by one person to take responsibility for the debts or obligations of another person if that person fails to meet them.
- Non-Disclosure Agreement (NDA) — Acronym,
- A contract that disallows one or more parties from disclosing information covered by the contract.
- Oral Agreement — Definition,
- A spoken, unwritten legal agreement, worth the paper it's printed on.