Contract Term
/ˈkɒntrækt tɜːrm/
Definitions
- (n.) A provision or clause within a contract that specifies a duty, right, or obligation of the contracting parties.
The non-compete clause is a crucial contract term in the employment agreement.
- (n.) An agreed-upon condition or stipulation that forms part of the binding agreement between parties.
Delivery date is a contract term that both parties must adhere to.
Forms
- contract terms
Related terms
See also
Commentary
Contract terms may be express or implied and define the scope and nature of the parties' obligations; clarity in drafting terms mitigates disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.