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Contract law. Within a contract, an exculpatory clause is a statement that aims to prevent one party from holding the other party liable for damages. [1] An exculpatory clause is generally only enforceable if it does not conflict with existing public policy. [2]
A buyer who has entered into a contract with a seller who wants to back out should consult a real estate attorney. If the buyer wants to take the case to court, they may have grounds to sue the ...
General Definition. To settle or to bring to a satisfactory state, so that the parties are agreed in the result; as, to adjust accounts. [2] When applied to a liquidated demand, the verb "adjust" has the same meaning as the word "settle" in the same connection, and means to pay the demand. When applied to an unliquidated demand, it means to ...
"Commercial real estate" loans are those that repay loans but that depend on the rental revenues paid by tenants who lease space, usually for extended times. More granular categorizations of loan portfolios exist but these are always variations around the larger themes.
Property law. A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. Hypothec is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien .
Contract law. Hardship clause is a clause in a contract that is intended to cover cases in which unforeseen events occur that fundamentally alter the equilibrium of a contract resulting in an excessive burden being placed on one of the parties involved. [1] [2]
Allodial title is related to the concept of land held "in allodium", or land ownership by occupancy and defense of the land. Most property ownership in common law jurisdictions is fee simple . In the United States, the land is subject to eminent domain by federal, state and local government, and subject to the imposition of taxes by state and ...
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