Contract Law Terms

tloparalegal's version from 2015-11-29 17:23


Contracts Law Study

Terms and Defiinitions (List 1)


Question Answer
Putativealleged; supposed; reputed
Arbitrationan Agreement to have a dispute heard and decided by a neutral third party, rather than through legal proceedings.
Arbitration AgreementA mutual understanding entered into by parties wishing to submit to the decision- making authority of a neutral third party, selected by the parties and charged with rendering a binding decision amenable to those affected.
Arbitration ClauseProvision contained in a contract pursuant to which both parties agree that any disputes arising thereunder will be resolved through arbitration.
AcceptanceAssent to the specified terms of an offer, resulting in the formation of a binding agreement.
Course of DealingPrevious conduct between two parties to a contract which may be relied upon to interpret their actions.
UCITAUniform Computer Information Transactions Act
Injunctive reliefA court order issued as a remedy, requiring a person to do, or prohibiting that person from doing a specific act.
Objective Theory of Assent“The existence of a meeting of the minds between two parties
DemurrerA pleading in a lawsuit that objects or challenges a pleading filed by an opposing party; a demurrer is the document that makes the objection.
AmbiguityLanguage that is capable of more than one interpretation.
Latent AmbiguityLanguage capable of more than one interpretation that seem clear on it’s face, but the introduction of extrinsic evidence proves it to have different meaning.

Recent badges