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Simple English definitions for legal terms
term
Read a random definition: unica taxatio
A quick definition of term:
Term: a specific period of time that something happens or takes effect, like a school term or a lease term. It can also refer to a condition or rule in a contract or agreement, like a no-pets clause in a lease or a forum selection clause in a business contract.
A more thorough explanation:
Term refers to a specific period of time that is established by law or agreement. It can also refer to a clause or provision in a contract or deal.
- A president serves a term of four years.
- A lease may have a term of one year.
- A contract may have a forum selection clause which states that any conflict resulting from the contract must be decided in a specific state.
- A lease may have a clause establishing that the tenant may not have any pets in the leased property.
These examples illustrate how term can refer to a specific set of time, such as a presidential term or a lease term. They also show how term can refer to a clause or provision in a contract, such as a forum selection clause or a no-pets clause.