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What Is a Contract Clause? A contract clause is a section in a legally enforceable contract that contains terms and conditions and important provisions of the legal agreement. In general, contracts are made up of many different contract clauses, all of which serve a different purpose.
A contract clause defines the specifics of an agreement, and makes sure all parties to the contract are made aware of their rights and responsibilities. For finance professionals, that means a clear understanding of clauses is essential for creating precise and enforceable agreements.
Clauses are commonly used in contracts, deeds, wills, settlement agreements, and other important documents. To explore this concept, consider the following clause definition. Definition of Clause. Noun. A distinct provision, article, section, or paragraph in a written legal document. Origin. 1175-1225 Middle English claus. What is a Clause.
Contract clauses are legal phrases and sentences that are legally-binding components of a contract. These clauses will define their scope and terms clearly. At the end of the day, an entire agreement is simply a collection of contract clauses that make up a whole.
Definitions Contract Clauses (26,161) Grouped Into 476 Collections of Similar Clauses From Business Contracts. This page contains Definitions clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses. Definitions.
Learn what various contract clauses mean with examples and samples. We've created a guide to the most common clauses found in contracts to explore in 2023.
What is a Contract Clause? A contract is a legally binding agreement between two groups. A written contract consists of detailed conditions or clauses. Clauses describe the rights and responsibilities each party has under the arrangement. Clauses generally fall into three categories: Enforcement clauses, Interpretation clauses, and; Execution ...
contract clause - A provision included in Article I, Section 10 of the U.S. Constitution that strictly disallows states from enacting any laws that make contracts void or hinder the obligations associated with them.
Definition & Citations: Provision provided in a scripted agreement or deal. A deal clause will approach a side of the deal between parties, specifying the agreement for ensuring that all parties comprehend what they should expect of each other. Find the legal definition of CONTRACT CLAUSE from Black's Law Dictionary, 2nd Edition.
A contract clause is a specific provision within a contract that outlines the rights, responsibilities, and expectations of each party concerning a particular aspect of the agreement.