Cost-reimbursement’ type contract requirement for reporting significant overrun possible to the principal or customer by the project contractor or manager. If significantly lower cost is expected, the report may be […]

Contract statement setting a maximum amount for cost recovery from damages. In case either one of them is in breach of the contract a provision the parties to a contract […]

Cost-reimbursement’ type contract requirement for reporting significant overrun possibility on the funds available from the principal or customer, Notification is made by the project contractor or manager. If significantly lower […]

1. In General, this is a statement given in writing that sets the conditions and damage amounts as a disclaimer on liability. 2. As a Memorandum of association , this […]

term that means a full and claim-free title.

Restricted; bounded; prescribed. Confined within positive bounds; restricted in duration, extent, or scope.

Court action’s decision to recover or compensate damages for less than or equal money than the law allows. Such decisions often happen quicker than full recovery.

In some states, this type of agent has lesser education and licensing requirements . An agent allowed to deal only is specific forms of insurance, like travel insurance.

the term applied to an appeal from a certain part of a decree or a judgement and not from the entire decree.

Narrowed-scope audit. Contrast to a full audit. Refer to audit scope . Typically (1) restricted to specific accounts or operations, (2) scoped to cover less than one year, or (3) […]

the term applied to the authority and power that is restricted to certain duties and functions.

A company in which the liability of each shareholder is limited by the number of shares he has taken, so that he cannot be called on to contribute beyond the […]

Specific location or specific chain of stores scopes product sales.

A divorce from bed and board : or a judicialseparation of husband and wife not dissolving tlie marriage tie.Divortium dicitur a divertendo, quia vir divertitur ab more. Co. Litt. 235. […]

A specific obligation fulfilling a written undertaking . Also known as specific guarantee.

the term given to a guarantee that is restricted to one transaction .

Specific illnesses or injuries specified in the health insurance contract are covered.

the term applied to the authority or jurisdiction of a lower court .

Settlement up to a certain limit of claims is what a creditor can accept.

The legal protection limiting each shareholder to the par value of fully paid-up company shares to cover the financial liability of the company’s debts and obligations in a privately or […]

US business structure type that is relatively recent. It combines corporation limited personal liability with partnership or sole proprietorship single taxation. Each shareholder files own separate tax return. Profits and […]

For accountants, architects, lawyers, and other professionals to eliminate personal liability as a partner for damages caused by other partners, they enter into this US partnership arrangement .

To prevent liability as a partner for the negligent acts caused by any other partners or any one else not under his or her command, one enters into this type […]

A trust that ends on a date set when the trust was first made.

Used by a property buyer wanting to move in prior to purchase closing. This arrangement type allows property occupation at an agreed-upon date under specific pre-conditions.