Contract Law Terminology

noun a thing that is bought or offered for sale at a price that is lower than the actual value

preposition used to indicate that something is included as part of an agreement or arrangement

• When purchasing a car, you must be aware of all the costs involved and not just the initial price that you bargain for.
• I didn't realize there would be so many extra fees to bargain for when buying this phone.
• I thought I was getting a great deal on this jacket, but there were some hidden defects that I didn't bargain for.
• She never expected to fall in love with him, it was a twist she hadn't bargained for.

noun A hatch or door in a ship, aircraft, or other enclosed space that can be used as an emergency exit

• The emergency exit on the airplane served as the escape hatch for the passengers during the crash landing.
• We found a hidden escape hatch in the basement that led us out of the building.
• When things get tough, I always look for an escape hatch to avoid the drama.
• Reading has always been my escape hatch from reality, allowing me to immerse myself in different worlds.

adjective used to introduce a statement or clause

adverb in a way that shows the action is being done by means of something mentioned

• I hereby declare the meeting adjourned.
• I hereby promise to never do that again.
• I ain't gonna do it, hereby swear.
• By signing this document, you hereby agree to the terms and conditions.

noun the state of not meeting or satisfying a promise, contract, or obligation

• The nonfulfillment of the contract led to legal consequences.
• Not meeting the requirements resulted in nonfulfillment of the task.
• He totally flaked on his promise, causing nonfulfillment of the agreement.
• Her constant procrastination was like a black hole of nonfulfillment in her life.

noun a person or thing that has been named before in a document or conversation

adjective describing or identifying a person or thing mentioned previously

• The abovenamed individuals have been selected for the scholarship program.
• The abovenamed people are the ones we're meeting for lunch.
• The abovenamed crew is always up for a good time.
• The abovenamed stars in the sky guide us on our journey.

verb Accrued is the past tense of the verb accrue, which means to accumulate or increase over time.

• Interest is accrued on the savings account balance each month.
• I've accrued quite a bit of vacation time, so I'm thinking of taking a long trip.
• I've been working hard and my savings have accrued nicely.
• Over time, the benefits of regular exercise accrued and I felt healthier and stronger.