Also known as a sales contract, sales order, or a contract for sale, this is a legal contract specifying the agreement between a buyer and a seller on the terms and conditions as well as the purchase price necessary for both...
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Escheat
This is the right of the government to take possession of unclaimed property or estate assets. It is often done when an individual passes away without a will or any heirs. Escheat rights can be granted once assets are unclaimed...
Capital Expenses
This refers to the money used by an organization or corporate entity to maintain, improve, or buy its fixed assets, which may include vehicles, buildings, equipment, and land. Capital expense is used to create a benefit in the...
Eviction
This is the act of removing a tenant from a rental property by a law enforcement officer. Before this occurs, the landlord is obliged to file and win an eviction lawsuit or an unlawful detainer.
Exculpatory clause
Stated in a lease, an exculpatory clause is a provision that exonerates the landlord from responsibility for any kind of damages, losses, or injuries that take place on the property. Those even include the ones caused by the...
In-The-Door Approach
This is an approach in determining the area of trade within a given retail institution based on previously analyzed traffic counts or flow patterns. Estimates of this are collected for the amount of traffic patronizing that...
Door-to-square-foot Ratio
This is the ratio of the sum of drive-indoors and loading docks to the building's total square feet.
Ground rent
This is the rent that is paid to the owner for use of a land in order to construct a building. Typically, the arrangement for this is a long term lease while the owner retains the title to the land.
Design Development
This is the phase where a team of design consultants works together to refine a project's details. It is when the design team selects materials and systems that they carefully look into so as to coordinate all the components of...
Cancellation Clause
This refers to a condition in a contract that permits a person in the lease to end the party's obligations at any time before its expiration date. Leases usually have cancellation policies, and the grounds for cancellation are...
