An agreement to further common interests made between related people or within a group that behaves as a family. • Historically, some international treaties among nations ruled by monarchs have been called family compacts because of intermarriage among the royal houses.
An agreement to pay for damage to freight damaged in transit. [Cases: Insurance 2137(3), 2217. C.J.S. Insurance §§ 403–404, 419.]
pact de non alienando (pakt dee non ay-lee-[schwa]-nan-doh). [Latin] Civil law. An agreement not to alienate encumbered (esp. mortgaged) property. • This stipulation will not void a sale to a third party, but it does allow the mortgagee to proceed directly against the mortgaged property without notice to the purchaser.
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A country that is obliged in some degree to share in the control of its external relations with some foreign power or powers. — Also termed satellite state. Cf. SOVEREIGN STATE.
subjective theory of contract. The doctrine (now largely outmoded) that a contract is an agreement in which the parties have a subjective meeting of the minds. — Often shortened to subjective theory. See MEETING OF THE MINDS. Cf. OBJECTIVE THEORY OF CONTRACT. [Cases: Contracts 15. C.J.S. Contracts §§ 35–36, 38.]
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futures contract. An agreement to buy or sell a standardized asset (such as a commodity, stock, or foreign currency) at a fixed price at a future time, usu. during a particular time of a month. • Futures contracts are traded on exchanges such as the Chicago Board of Trade or the Chicago Mercantile Exchange. —
litis contestatio (lI-tis kon-tes-tay-shee-oh). [Latin] 1. Roman law. The final agreement of the parties to a suit on the formula the praetor would issue to the judex. — Also termed contestatio litis. See FORMULA. “Both parties being present, or represented, before the praetor, the plaintiff stated the nature of his claim and asked for an
collateral-contract doctrine. The principle that in a dispute concerning a written contract, proof of a second (usu. oral) agreement will not be excluded under the parol-evidence rule if the oral agreement is independent of and not inconsistent with the written contract, and if the information in the oral agreement would not ordinarily be ex-pected to
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