Home > Blossary: Business Contracts
Terms you should know that may be contained within a business contract

Category: Business

9 Terms

Created by: T.Dub

Number of Blossarys: 6

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An agent is an individual that is appointed to act on behalf of another individual(known as the principal). The agent's authority is determined by the principal. Third parties may assume the agent ...

Domain: Law; Category: Contracts

Conditions include the major terms within a contract. They are the basis of the contract, and if any condition is broken or ignored, the contract is breached.

Domain: Law; Category: Contracts

Due diligence is the formal process of investigating a business to uncover possible hidden details that would affect closing a deal or contract. Normally utilized in the acquisition and merger ...

Domain: Law; Category: Contracts

These clauses are intended to exclude one party from liability if a certain circumstance happens. Courts tend to interpret these clauses strictly, and favor the party that did not write them.

Domain: Law; Category: Contracts

Going-concern is an accounting idea that a business should be valued on the basis that it will continue operations for the foreseen future.

Domain: Accounting; Category: General accounting

An injunction is a remedy, sometimes awarded by court, that ceases some action from being taken. It may stop a party from doing something against the contract.

Domain: Law; Category: 

This is where parties act within the contract as partners and have 'joint, and several liability'. This means each partner is also liable for the entire contract. In the case of a liability or ...

Domain: Law; Category: Contracts

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