Contract Law Glossary

noun the act of belittling or disparaging someone or something

• Any derogation from this policy will result in disciplinary action.
• If you don't follow this rule, you'll get in trouble.
• Messing up this policy will get you in hot water.
• Deviation from this guideline will lead to consequences.

noun a condition or requirement that is specified or demanded as part of an agreement or contract

• The contract includes a stipulation regarding payment terms.
• There's a rule in place about that, it's a stipulation.
• You gotta follow the stip, no exceptions.
• The stipulation acted as a roadblock in their plans.

noun a person who is bound or obliged to do something, typically by a contract, promise, or duty

• The obligor failed to meet their financial obligations as outlined in the contract.
• I heard the obligor didn't pay back the money they owed.
• That obligor really messed up by not fulfilling their duties.
• The obligor's promises were like a house of cards, easily broken.