The offer to fulfill a party’s obligations under a contract to the other party.
Related Legal Terms & Definitions
- SPECIFIC PERFORMANCE (A) remedies. The actual accomplishment of a contract by the party bound to fulfill it.…
- TENDER OF PAYMENT The act of extending an offer to pay a party to a contract.
- CONTRACTING PARTY A party to a contract. When written, one of the listed parties under the contract.…
- OF THE ESSENCE A requirement of a contract that is essential or of vital performance. For example, time…
- COUNTER-OFFER The rejection of an offer by a party who then provides an offer back to…
- SUBSTANTIAL PERFORMANCE Where a party in a contract performs on the overwhelming majority of the contract but,…
- BILATERAL CONTRACT A contract between two parties with a mutual exchange of promises. civil law. A contract…
- TENDER contracts, pleadings. A tender is an offer to do or perform an act which the…