constitutum possessorium (kon-sti-t[y]oo-t[schwa]m pah-ses-sor-ee-[schwa]m). [Latin “possessory agreement”] Roman law. 1. A type of constructive delivery in which mediate possession is transferred while the immediate control or custody remains in the transferor. 2. The agreement by which this transfer is brought about. • In the context of a security interest, the pledged property may remain in […]
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An agreement to substitute for an existing debt some alternative form of discharging that debt, coupled with the actual discharge of the debt by the substituted performance. • The new agreement is called the accord, and the discharge is called the satisfaction. Cf. COMPROMISE; NOVATION; SETTLEMENT(2), (3). [Cases: Accord and Satisfaction 1.C.J.S. Accord and Satisfaction
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enforcement, n. The act or process of compelling compliance with a law, mandate, command, decree, or agreement. extrajudicial enforcement. See SELF-HELP. law enforcement. See LAW ENFORCEMENT. remedial enforcement. See secondary right under RIGHT. sanctional enforcement. See secondary right under RIGHT. secondary enforcement. See secondary right under RIGHT. selective enforcement. See SELECTIVE ENFORCEMENT. specific enforcement. See
whereas,conj. 1. While by contrast; although (McWilliams was stopped at 10:08 p.m. wearing a green hat, whereas the assailant had been identified at 10:04 p.m. wearing a black hat). 2. Given the fact that; since (Whereas, the parties have found that their 1994 agreement did not adequately address incidental expenses …; and Whereas, the parties
bargain and sale. 1. A negotiated transaction, usu. for goods, services, or real property. 2. Hist. A written agreement for the sale of land whereby the buyer would give valuable consideration (recited in the agreement) without having to enter the land and perform livery of seisin, so that the parties equitably “raised a use” in
An agreement to buy or sell a particular nonstandardized asset (usu. currencies) at a fixed price on a future date. • Unlike a futures contract, a forward contract is not traded on a formal exchange. — Also termed forward agreement. Cf. FUTURES CONTRACT.
Consideration that is fair and reasonable under the circumstances of the agreement. Cf. sufficient consideration. [Cases: Contracts 53–54. C.J.S. Contracts §§ 87, 131–132.]
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contrahere (k[schwa]n-tray-h[schwa]-ree), vb. [Latin “draw together”] Roman law. 1. To establish or enter into a formal relationship, as between husband and wife, creditor and debtor, by mutual agreement. 2. To commit a crime. 3. To accept an inheritance. 4. Generally, to perform any act of legal significance. See CONTRACTUS.
fact-finding. 1. The process of taking evidence to determine the truth about a disputed point of fact. 2. Int’l law. The gathering of information for purposes of international relations, including the peaceful settlement of disputes and the supervision of international agreements. • Examples of fact-finding include legislative tours and the acquisition of information required for
addictio in diem ([schwa]-dik-shee-oh in dI-[schwa]m). [Latin “assignment for a fixed period” or “postponement to a date”] Roman law. A clause in a contract of sale in which the parties agree that the contract can be terminated if the seller receives a better offer within a specified period. — Also termed in diem addictio.