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course of performance

course of performance. A sequence of previous performance by either party after an agreement has been entered into, when a contract involves repeated occasions for performance and both parties know the nature of the performance and have an opportunity to object to it. • A course of performance accepted or acquiesced in without objection is […]

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arrest of judgment

arrest of judgment. The staying of a judgment after its entry; esp., a court’s refusal to render or enforce a judgment because of a defect apparent from the record. • At common law, courts have the power to arrest judgment for intrinsic causes appearing on the record, as when the verdict differs materially from the

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earnest money

A deposit paid (often in escrow) by a prospective buyer (esp. of real estate) to show a good-faith intention to complete the transaction, and ordinarily forfeited if the buyer defaults. • Although earnest money has traditionally been a nominal sum (such as a nickel or a dollar) used in the sale of goods, it is

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jettison

jettison (jet-[schwa]-s[schwa]n), n. Maritime law. 1. The act of voluntarily throwing cargo overboard to lighten or stabilize a ship that is in immediate danger. — Also termed equitable jettison; jactura; jactus mercium navis levandae causa. See general average under AVERAGE. 2. JETSAM. — jettison, vb. “The goods must not be swept away by the violence

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