Contractual Period
/ˌkɒntræk.tʃu.əl ˈpɪə.ri.əd/
Definitions
- (n.) The fixed or agreed-upon duration during which the terms of a contract are effective and binding on the parties involved.
The contractual period for the lease agreement is five years from the date of signing.
Forms
- contractual periods
Related terms
See also
Commentary
The contractual period often affects rights and obligations, so precision in specifying its start and end dates is crucial in drafting.
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.