Business Contracts

noun a mutual understanding or arrangement

adjective pertaining to or characterized by agreement

• The two parties reached a mutual agreement on the terms of the contract.
• We finally agreed on a plan for the weekend getaway.
• Let's make a deal and shake on it, agreement?
• Sometimes silence can be a silent agreement between two people.

noun a person or entity to whom a right or property is transferred

• The assignee of the contract will be responsible for completing the project.
• The person who gets assigned the task will have to finish it.
• The lucky one who gets stuck with the job will have to do it.
• The assignee is like a player in a game, given a specific role to fulfill.

noun a written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law

verb to enter into a formal and legally binding agreement

• The contract between the two companies was signed yesterday.
• They finally sealed the deal with a contract.
• They inked the contract last week.
• Their friendship was like an unspoken contract, always there to support each other.

noun a signature added to a document after it has been signed by someone else, to confirm its authenticity or to approve its contents

• The document requires the CEO to countersign before it can be considered valid.
• Hey, can you countersign this for me real quick?
• I'll sneak you in if you countersign my entry pass.
• Her smile seemed to countersign his decision to pursue his dream.

noun a delay or postponement

verb to extend or continue something beyond its original time or term

• The decision to hold over the meeting until next week was made by the board of directors.
• Let's hold over the discussion about the project until after lunch.
• I think we should hold over the party until the weekend so more people can come.
• The excitement from the concert held over into the next day, leaving everyone in a good mood.

noun Force is a noun that refers to strength or power, or a group of people organized for a particular purpose.

adverb In force is used as an adverbial phrase to indicate that something is currently in effect or active.

preposition In is a preposition that indicates location or position within a space or time period.

• The new law will come into force next month.
• The new rule will be in force starting next month.
• The new regulation will kick in next month.
• The power of the decision was in force during the meeting.

noun a sum of money paid as compensation, especially a sum exacted by a victor in war as reparation from the vanquished

• The company required all vendors to provide proof of indemnity in case of any potential legal claims.
• Make sure you have insurance that covers indemnity just in case anything goes wrong.
• I ain't worried about no indemnity, I got it all covered.
• Her unwavering loyalty to her friend was like an indemnity against any harm that may come their way.

noun a document issued by a bank or financial institution guaranteeing payment to a seller on behalf of a buyer

• The seller requested a letter of credit as a guarantee of payment from the buyer.
• The seller wanted a letter of credit to make sure they get paid by the buyer.
• The seller needed a letter of credit to cover their back with the buyer.
• The letter of credit acted as a safety net for the seller in the transaction.

noun A person authorized to perform certain legal formalities such as witnessing signatures, administering oaths, and certifying documents.

• The notary public verified the authenticity of the signatures on the legal document.
• I need to get this document notarized by a notary.
• I'll just swing by the notary's office to get this stamped.
• She acted as a notary of truth, confirming the accuracy of the statement.

adjective required by a legal, moral, or other rule; compulsory

• Attendance at the conference is obligatory for all employees.
• You have to come to the party, it's obligatory.
• I guess I have to do my obligatory chores before I can relax.
• The obligatory small talk at networking events can be exhausting.

noun a duty or commitment to fulfill a responsibility

adjective obligatory, required by a sense of duty or responsibility

• It is our obligation to ensure all employees receive proper training.
• I feel like it's my obligation to help out my neighbors when they need it.
• I don't have any obligation to hang out with him if I don't want to.
• Her love for her family is an obligation that she gladly fulfills.

noun a firm belief in the reliability, truth, ability, or strength of someone or something

preposition indicating the basis or grounds for something

• The business deal was based on trust between the two companies.
• I'll lend you my car, but it's on trust that you'll bring it back in one piece.
• We're starting a new project together, so let's make sure we're all on trust.
• Their relationship was built on trust, like a strong foundation for a house.

verb to officially approve or confirm

• The treaty was ratified by all member states of the United Nations.
• The committee finally ratified the decision to move forward with the project.
• I heard they finally ratified that new rule at work.
• Her actions ratified her commitment to the cause.

adjective a word that describes or modifies a noun, indicating that each noun belongs to or is associated with a particular person or thing

• Each department will present their respective findings at the meeting.
• We should stick to our respective tasks to get this project done on time.
• Let's grab a drink at our respective favorite bars tonight.
• Their respective paths led them to different destinations in life.

verb to demand or specify as part of an agreement or arrangement

• The terms of the contract stipulated that payment must be made within 30 days.
• The rules clearly stated that we had to be there by 9pm, no exceptions.
• The boss made it crystal clear that we had to finish the project by Friday.
• The agreement set forth strict guidelines that we had to follow to the letter.

noun a written guarantee promising to repair or replace a product if it malfunctions within a certain period of time

• The product comes with a one-year warranty for any manufacturing defects.
• Don't worry, if anything goes wrong with it, you can always use the warranty.
• I got this phone on sale, and it even came with a warranty, so I'm good to go.
• Trust is the warranty of a good relationship.

adverb relating to a contract or contracts; according to the terms of a contract

• The terms of the agreement are contractually binding.
• We are contractually obligated to finish the project by next week.
• I can't hang out tonight, I'm contractually committed to studying.
• Their love was contractually sealed with a kiss.

noun A person or entity who enters into a contract with another party.

• The contracting party must adhere to all terms and conditions outlined in the agreement.
• Make sure the contracting party knows what they're responsible for in the contract.
• The contracting party better not try to weasel out of the deal.
• As a contracting party, you are like a puzzle piece fitting into the larger picture of the agreement.

noun A word that represents a person, place, thing, or idea. In this case, 'stock sale agreement' is a noun as it represents a legal document outlining the terms of a sale of stocks.

• The stock sale agreement outlines the terms and conditions of the transaction between the buyer and seller.
• We finally signed the stock sale agreement for the company.
• They sealed the deal with the stock sale agreement.
• The stock sale agreement was like a handshake between the two parties, solidifying their agreement.

noun NDA (noun): An abbreviation for Non-Disclosure Agreement, a legal contract between parties to protect confidential information shared during a business relationship.

• All employees are required to sign an NDA before accessing any confidential information.
• Hey, don't forget to sign that NDA before you start on the new project.
• I ain't spillin' the beans, gotta sign that NDA first.
• Signing the NDA is like sealing a pact of secrecy.

noun A word that represents a person, place, thing, or idea. In this case, 'sth' is a noun representing something that is being legalized.

verb A word used to describe an action or state of being. In this case, 'to have sth legalled' is a verb phrase indicating the action of getting something legalized.

preposition A word that shows the relationship between a noun (or pronoun) and other words in a sentence. In this case, 'to' is a preposition indicating the direction or intention of having something legalized.

• The company decided to have their new contract legalled by the legal team before signing it.
• I think we should have our rental agreement legalled just to be safe.
• Let's get this document legalled so we can cover our backs.
• She wanted to have her decision legalled by getting a second opinion before moving forward.

noun a person who signs or writes their name on a document

adjective relating to the act of signing or writing one's name

• The signer of the contract must ensure all terms and conditions are understood before signing.
• Hey, are you the signer for this delivery? Just need your signature here.
• Yo, you the signer for this party? Sign me up!
• As the signer of the petition, she became the voice for those who couldn't speak up.

noun A legal relationship in which physical possession of personal property is transferred from one party (the bailor) to another party (the bailee) for a specific purpose, typically without transfer of ownership.

• The bailment agreement outlined the terms and conditions for the temporary transfer of possession of the goods.
• I left my laptop with my friend as a bailment while I went on vacation.
• I'm just holding onto this jacket for my friend, it's like a bailment or something.
• Their relationship felt like a bailment of emotions, with each person holding onto the other's feelings temporarily.

adjective relating to or involving a compromise

• The legal document contained a compromissory clause outlining the terms of the agreement.
• I had to sign a compromissory note before receiving the loan.
• I didn't realize there was a compromissory condition attached to the deal.
• Their relationship was like a compromissory bond, each person giving a little to find a middle ground.

preposition a word governing, and usually preceding, a noun or pronoun and expressing a relation to another word or element in the clause

• The company's policies are in accordance with the law.
• We need to make sure our plans align with the rules.
• Let's stick to the plan, it's what the boss wants.
• His actions are in harmony with his beliefs.

noun a person who assumes responsibility for another's debt or obligation

• The adpromissors in the contract must fulfill their obligations according to the agreed terms.
• The adpromissors better not try to back out of the deal at the last minute.
• I heard the adpromissors are trying to weasel their way out of the agreement.
• The adpromissors hold the key to unlocking the success of the partnership.