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Illusory contract
Illusory contract An apparent contract that is not a contract because the parties have not agreed to be bound.
RELATED TERMS--------------------------------------
Contract
A legal agreement between entities that requires each to conduct (or refrain from conducting) certain activities.
SIMILAR TERMS--------------------------------------
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Interest-only refinance ARM 3-1
A 3-1 interest-only refinance ARM is an adjustable rate refi in which none of the payments go toward retiring principal for the first five years.
Investment 401(k)
An employer-sponsored investment plan that allows individuals to set aside tax-deferred income for retirement or emergency purposes. 401(k) plans are provided by employers that are private corporations.
Interest-only ARM 5-1
A 5-1 interest-only ARM is an adjustable rate mortgage in which none of the payments go toward retiring principal for the first five years.
Interest-only jumbo refinance ARM 5-1
A 5-1 jumbo interest-only refinance ARM is a jumbo refi with fixed, interest-only payments for the first five years of the loan. After the five years are up, the loan converts to a loan whose payments cover both interest and principal, and which adjusts annually to current interest rates.
Identification period
The period during which the exchanger must identify replacement property in a 1031 tax deferred exchange. The identification period starts on the day the exchanger transfers the first relinquished property and ends at midnight on the 45th day thereafter.
Illusory contract
Impact fees
Money that local government collects from housing developers to pay for services that residents will need, such as schools, parks, road improvements and sewerage.
Impaired credit
A person with a less-than-perfect credit rating.
Implied agency
An agency agreement created by the actions of the parties, and not a stated (written or verbal) agreement.
Implied agreement-contract
A contract under which the agreement of the parties is demonstrated by their acts and conduct.
Implied authority
The authority of an agent to perform acts which are reasonably necessary to accomplish the purpose of the agency.
This dictionary contains 6433 terms. |
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