contracts

Consignor

Someone who consigns goods to another. The consignor lets the consignee takes physical possession of the goods, with the usual aim of receiving a portion of the revenues from their sale.

See Consignee (contrast).

Consortium

Definition

An association, combination or partnership of businesses, financial institutions or investors engaged in a joint venture.

See alsoJoint venturePartnership

Construction Lien

A type of lien that gives contractors a security interest in property until they have been paid for their work on that property. Essentially, a mechanic's lien by another name.

Constructive Contract

An obligation created by the law of equity and justice in the absence of any agreement between the parties to prevent unjust enrichment. Also termed a Quasi contract (or quasi-contract). or a contract implied in law.

See Quasi contract (or quasi...

Constructive Fraud

Under contract law, a defendant can be liable to a plaintiff for constructive fraud if there was: (1) a false misrepresentation; (2) in reference to a material fact; (3) for the purpose of inducing the other party to rely on such representation; 4) on...

Constructive Trust

A constructive trust is not an actual trust by the traditional definition. It is a legal fiction that is used as a remedy for unjust enrichment. Hence, there is no trustee, but the constructive trust orders the person who would otherwise be unjustly...

Contingency

Definition from Nolo’s Plain-English Law DictionaryA provision in a contract stating that some or all of the terms of the contract will be altered or voided by the occurrence of a specific event. For example, a contingency in a contract for the purchase...

Contingency Fee

A contingency fee is a form of payment to a lawyer for his/her legal services. In contrast to a fixed hourly fee, in a contingent fee arrangement lawyers receive a percentage of the monetary amount his/her client receives when they win or settle...

Contra Proferentem

A Latin term used in contract law referring to the principle that a judge will construe an ambiguous term against the party that imposed the inclusion of the term in the contract during negotiation or drafting.

Contract

Definition

An agreement between private parties creating mutual obligations enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate...

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