contracts

Cost of Completion

Cost of completion generally refers to the expense of finishing a project, promise, or contract. Normally, cost of completion appears in contract law as a type of damages awarded to a party in a contract that another party intentionally...

Counteroffer

A counteroffer functions as both a rejection of an offer to enter into a contract, as well as a new offer that materially changes the terms of the original offer. Because a counteroffer serves as a rejection, it completely voids the original offer....

Counterpart

Definition from Nolo’s Plain-English Law DictionaryIn the law of contracts, a written paper that is one of several documents that constitute a contract, such as a written offer and a written acceptance. If the parties are in different localities, often a...

Course of Dealing

Often used to aid in contract interpretation, a course of dealing is a sequence of previous conduct between the parties which is regarded as establishing a common basis of understanding for interpreting their expressions and other conduct.

Course of Performance

Under section 2 of the Uniform Commercial Code, course of performance is often used to aid in interpreting contracts, particularly with gap filling. Course of performance is often the best evidence of what parties intended since it calls for looking to...

Covenant

A formal agreement or promise, usually included in a contract or deed, to do or not do a particular act; a compact or stipulation made in writing or by parol.

There are numerous types of covenants, like...

Covenant not to Compete

A covenant not to compete, also called a "nompete agreement" or "non compete clause," is an agreement where one party promises not to compete with the other party in a specified area for a certain period of time. A covenant not to compete can be...

Covenant of Quiet Enjoyment

Definition

A formal agreement, typically in a deed or lease, in which a seller or lessor promises to protect a buyer or lessee in the event of a disturbance of his or right to quiet enjoyment of the property he or she is buying or leasing. A covenant of...

Covenant that Runs with the Land

A property covenant is an agreement between two or more parties regarding certain use of a piece of real property. The covenant will either benefit or burden the landowner. A covenant that burdens the landowner is also called a restrictive covenant....

Covered Option

Definition

An option contract where the seller actually owns the underlying shares at the time of contract.

See alsoOptionNaked option

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