Stability
/ˈsteɪbɪlɪti/
Definitions
- (n.) The condition of being stable, legally referring to the reliability and consistency of legal arrangements or institutions over time.
The stability of the contract ensures predictable rights and obligations for both parties.
- (n.) In insolvency law, the capacity of an entity to maintain solvency and meet its financial obligations.
The company’s financial stability is crucial to avoid bankruptcy proceedings.
Commentary
In legal drafting, stability often implies predictability and enforceability, emphasizing durable legal relationships or financial soundness.