Contract

(1) A termThe time period by the end of which a debt must be fully repaid. Also refers to the maturity period of reference describing a unit of trading for a commodityA commodity, as defined in the Commodity Exchange Act, includes the agricultural commodities enumerated future or optionThe unilateral right to do something. For example, the right to renew a lease or purchase a property.; (2) an agreementAn exchange of promises, a mutual understanding or arrangement; a contract. to buy or sell a specified commodity, detailing the amount and gradeThe level of the ground at the structure foundation. of the product and the date on which the contract will mature and become deliverable.

Contract

A binding agreementAn exchange of promises, a mutual understanding or arrangement; a contract. between two or more partiesThose entities taking part in a transaction as a principal, e.g., seller, buyer, or lender in a real estate transaction. for the doing or not doing of certain things. A contract of insuranceSee "property insurance;" "private mortgage insurance;" "insured mortgage;" "title insurance." is embodied in a written documentAny written instrument meeting all statutory requirements which may be recorded with the Register of Deeds. calledAnother term for exercised when an option is a call. In the case of an option on a physical, the writer the policyThe written contract of insurance..

Contract

A legally binding agreementAn exchange of promises, a mutual understanding or arrangement; a contract. between two or more partiesThose entities taking part in a transaction as a principal, e.g., seller, buyer, or lender in a real estate transaction.. A documentAny written instrument meeting all statutory requirements which may be recorded with the Register of Deeds. stating the termsThe specific conditions of a loan, including the requirements governing receipt and repayment of a loan. of a contract.

Contract

An agreementAn exchange of promises, a mutual understanding or arrangement; a contract. to do or not to do a certain thing. It must have four essential elements: partiesThose entities taking part in a transaction as a principal, e.g., seller, buyer, or lender in a real estate transaction. capable of contracting, consent of the parties, a lawful object, and considerationThat which is received by the grantor in exchange for their deed.. A contract for sale of real propertyThe type of property ascribed to real estate investments, such as houses, land, buildings, retail stores, malls, etc. must also be in writing and signed by the party or parties to be charged with performance.

Contract

An agreementAn exchange of promises, a mutual understanding or arrangement; a contract., either oral or written to do or not to do certain things. In real estateThe physical parcel of land and all improvements permanently attached. An identified parcel or tract, there are many different types of contracts, including listingsA computerized pool of information, shared by real estate agents, that list houses for sale. Also called, contracts of sale, options, mortgages, assignments, leases, deeds, escrowThe holding of money or documents by a neutral third party prior to closing. It can also be an account agreements, and loanTransfers for which the recipient incurs a legal debt and repayment is required over time, with or without commitmentsSee Open Interest., among others.

Contract

An oral or written agreementAn exchange of promises, a mutual understanding or arrangement; a contract. to do or not to do a certain thing.

Contract

In most cases, the termThe time period by the end of which a debt must be fully repaid. Also refers to the maturity period ""contract" refers to the insurance policyThis is the entire written insurance contract.. The policyThe written contract of insurance. is considered to be a "contract" between the insurerThe insurance company. and the insuredThe policyholder - the person(s) protected in case of a loss or claim. for indemnificationTo secure against any loss or damage, compensate or give security for reimbursement for loss or damage.

Contract

The formal legal documentAny written instrument meeting all statutory requirements which may be recorded with the Register of Deeds., also known as the "policyThe written contract of insurance." that describes the agreementAn exchange of promises, a mutual understanding or arrangement; a contract. between the policyholderThe person who owns the insurance policy. This is usually the insured person, but it may also be a relative and the insurance companyAn insurance company must be licensed by the Department of Insurance to sell health insurance. The insurer. This document contains the specific responsibilities of the policyholder and the insuranceSee "property insurance;" "private mortgage insurance;" "insured mortgage;" "title insurance." company in relation to the benefitsThe amount payable by the insurance company to a claimant, assignee or beneficiary under each coverage provided under the contract.