Someone who assumes direct liability for another's obligation. Financial creditors may require the debtor to find a surety, who then signs the loan agreement along with the debtor. Although similar to a guarantor, a financial surety's liability...
contracts
tender
Tender is to unconditionally offer money or performance to meet an obligation. The term most commonly arises in the context of the contractual sale of goods. For example, California Code of Civil Procedure § 2074 provides that “an offer in...
tender back rule
The tender-back rule, also known as the tender-back doctrine, is a rule that is commonly associated with waiver or release agreements in an employment context. The tender-back rule requires any consideration given to an employee to be given...
term
Term may refer to a specific set of time that something occurs or takes effect, a specified period of time that is established either by the law to exercise a right or by agreement to set the duration of a contract.
Legislatures,...third party beneficiary
A third party beneficiary is a person benefiting from a contract made between two parties, where the two contracting parties intended to benefit the third party beneficiary. The third party beneficiary is not a party to the contract but has rights...
third-party beneficiary
A third-party beneficiary is a person who is not a contracting party of a contract but can still receive the benefits from the performance of the contract. The privity of the contract is between the contracting parties - the promisor and...
time is of the essence
In a legal context, “time is of the essence” is a statement that may be included in the language of the provisions of a contract to emphasize that the parties must complete their obligations on time. In other words, the phrase “time is of the...
tortious interference
Tortious interference is a common law tort allowing a claim for damages against a defendant who wrongfully interferes with the plaintiff's contractual or business relationships.
See also intentional interference with contractual relations.
tying arrangement
A tying arrangement is an agreement in which the seller conditions the sale of one product (the "tying" product) on the buyer's agreement to purchase a separate product (the "tied" product) from the seller. Alternatively, it is also considered a...
unconscionability
A defense against the enforcement of a contract or portion of a contract. If a contract is unfair or oppressive to one party in a way that suggests abuses during its formation, a court may find it unconscionable and refuse to enforce it. A contract...