An agreement that is in anticipation of another subsequent contract that will supersede the terms of the earlier contract. In essence, the earlier contract is a commitment to a directly related to the formalization of a future agreement. With individual agreements, there may be a question as to whether such a preparatory contract is legally binding. The performance of a … [Read more...]
PUT IN
In practice. To place in due form before a court; to place among the records of a court. … [Read more...]
PUT OPTION
A type of market option contract where the owner of a commodity has an option (but not the obligation) to sell at a specified time and price. … [Read more...]
PUT OUT
To open. To put out lights; to open or cut windows. 11 East 372. Putagium. haereditatem nom adimlt. 1 Reeve, Eng. Law, c 3, p. 117. Incontinence does not take away an inheritance. … [Read more...]
PUTATIVE
Reputed; supposed; commonly esteemed. Applied in Scotch law to creditors and proprietors. 2 Karnes, EQ. 105, 107, 109. Putative father. The alleged or reputed father of an illegitimate child. State v. Nest-aval, 72 Minn. 415, 75 X. W. 725. Putative marriage. A marriage contracted in good faith and in ignorance (on one or both sides) that impediments exist which render it … [Read more...]