Term Of A Contract (Noun)
Meaning
The period of time during which a contract conveying property to a person is in effect.
Classification
Nouns denoting time and temporal relations.
Examples
- A landlord reviewed the term of a contract to ensure the rent agreement with her tenant had not expired.
- The term of a contract between the parties was for a period of five years and was subject to renewal.
- Under the lease, the original term of a contract was for ten years, but an extension was possible.
- A realtor advised her client on the term of a contract before finalizing the purchase agreement.
- The company signed a sale agreement with a term of a contract that would last 20 years with an option for renewal.