Legal glossary category
Contractual Terminology
Browse 14 glossary entries in the Contractual Terminology category, with short plain-English descriptions and direct links to the full term pages.
prepay
Imagine you are signing up for a service, and you pay a little money right away to start the process.
Open term →purchase price
Imagine you are buying a house; the purchase price is the exact dollar amount you agree to pay to the seller for that house.
Open term →quality
Quality means making sure something is good enough or meets the right standard.
Open term →recitals
Imagine these are the 'introduction' parts of a legal paper.
Open term →redemption
Imagine you have a promise in a contract that says if you pay the money, you get to take something else.
Open term →renewal
It means making a deal last longer than it was supposed to, like when you sign a paper saying the old one is still good for another year.
Open term →repurchase
Imagine you bought something, and then later someone else agreed to buy that same thing back.
Open term →repurchase request
Imagine you own something valuable, and now someone wants to buy it back.
Open term →service
Imagine 'service' as doing what you promised to do.
Open term →spare part
Imagine a piece that is needed to finish a job or a product.
Open term →specifications
Imagine 'specifications' are the precise instructions for a game or a building project.
Open term →subcontractor
Imagine a big construction job where one person is hired to do just one small piece of the job, like installing the plumbing or painting a specific...
Open term →subscribe
It means saying 'yes' to a deal or a membership.
Open term →supersede
Imagine you have two rules, and 'supersede' means one rule completely replaces the other.
Open term →