Browsing: Contract Law Glossary

The legal system is a set of rules that help make sure people follow the law and treat each other…

The law of agency is like when someone you trust helps you do something important, and they have to follow…

Real estate law is the set of rules that helps people buy, sell, and use land or buildings fairly and…

The Dual Agency Problem happens when one real estate agent or company works for both the buyer and the seller…

Operationalisation of the law refers to the process of implementing and enforcing legal frameworks to ensure they achieve their intended…

Failure to perform refers to the inability or refusal of one party to fulfill their obligations under a contract, which…

The impossibility of performance refers to a situation in which a contract cannot be fulfilled because an unforeseen event or…

Fraudulent concealment is a legal concept where one party intentionally hides or fails to disclose critical information, causing harm or…

An “invitation to treat” is a concept in contract law where one party invites others to make offers, but it’s…

A limited agent is an agent authorized to perform only specific duties or tasks on behalf of a principal, with…

A universal agent is someone given the power to handle almost everything for another person, especially when it comes to…

Equitable estoppel is a rule that keeps people from going back on their word if it would unfairly hurt someone…

In the context of Jamaica, a limited service listing refers to a real estate arrangement in which a property owner contracts a…

Vicarious liability is a legal principle holding one party responsible for the actions of another, typically when an employer is held…

Mental incapacity refers to a condition where an individual lacks the cognitive ability to fully understand the nature, purpose, or consequences…