Definition from Nolo’s Plain-English Law Dictionary
1) Generally, any written agreement between two parties. 2) A real estate deed in which two parties agree to continuing obligations; for example, one party may agree to maintain the property and the other to make periodic payments. 3) In finance, a written agreement that describes the borrowers' responsibility to the lenders in a bond or debenture issue and states the maturity date and the interest rate; also called a bond indenture.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:17 pm