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.
Going-concern is an accounting idea that a business should be valued on the basis that it will continue operations for the foreseen future.
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.
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 market.
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.
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 has full powers to deal.
Refers to the left hand side of a boat(when looking toward the bow). Named due to boats in history docking at a port on that side.
Refers to the right-hand side of a boat (when looking toward the bow). Starboard is the opposite of port-side.
