A legal claim that one party failed to perform as required under a valid agreement with the other party. For example you might say, 'The roofer breached our con... (more...)

A legal claim that one party failed to perform as required under a valid agreement with the other party. For example you might say, 'The roofer breached our contract by using substandard supplies when he repaired my roof.'

YELLOW-DOG CONTRACT

An employment contract in which the employer forbids the employee to join a labor union. Yellow-dog contracts are not legally enforceable.

TENANT

Anyone, including a corporation, who rents real property, with or without a house or structure, from the owner (called the landlord). The tenant may also be cal... (more...)

Anyone, including a corporation, who rents real property, with or without a house or structure, from the owner (called the landlord). The tenant may also be called the 'lessee.'

MORTGAGE

A loan in which the borrower puts up the title to real estate as security (collateral) for a loan. If the borrower doesn't pay back the debt on time, the lender... (more...)

A loan in which the borrower puts up the title to real estate as security (collateral) for a loan. If the borrower doesn't pay back the debt on time, the lender can foreclose on the real estate and have it sold to pay off the loan.

DOMINANT TENEMENT

Property that carries a right to use a portion of a neighboring property. For example, property that benefits from a beach access trail across another property ... (more...)

Property that carries a right to use a portion of a neighboring property. For example, property that benefits from a beach access trail across another property is the dominant tenement.

LEGACY

An outdated legal word meaning personal property left by a will. The more common term for this type of property is bequest. Compare devise.

ASSIGNMENT

A transfer of property rights from one person to another, called the assignee.

EXECUTRIX

An old-fashioned term for a female executor--the person named in a will to handle the distribution of the deceased person's property. Now, whether male or femal... (more...)

An old-fashioned term for a female executor--the person named in a will to handle the distribution of the deceased person's property. Now, whether male or female, this person is called either the executor or the personal representative.

FAILURE OF CONSIDERATION

The refusal or inability of a contracting party to perform its side of a bargain.

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LEGAL TERMS

BREACH OF CONTRACT

YELLOW-DOG CONTRACT

TENANT

MORTGAGE

DOMINANT TENEMENT

LEGACY

ASSIGNMENT

EXECUTRIX

FAILURE OF CONSIDERATION

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