Management Contract
/ˈmænɪdʒmənt ˈkɒntrækt/
Definitions
- (n.) A legally binding agreement where one party delegates management responsibilities of a business or property to another party for a specified term and compensation.
The company entered into a management contract to oversee its hotel operations.
Forms
- management contract
- management contracts
Related terms
See also
Commentary
Management contracts often require clear terms on authority scope and performance standards to avoid 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.