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Glossary
10 available 10 • View allContract 57
A legal document, usually in writing, giving details of a formal legally binding agreement, between two or more different people or groups. To be legally binding it must contain certain elements:
it must contain an offer made by one party and accepted in its entirety by the other,
it must include some form of consideration whether it be money, goods or services, and
it must be properly signed by all parties to it, and dated.
May 29, 2009
18005
Express contract 5
A contract in which all elements of a contract are specifically stated (offer, acceptance and consideration), and the terms are set out, as compared with an implied contract in which the existence of the contract is assumed by the circumstances.
Mar 9, 2009
813
RERA 12
RERA stands for Dubai Real Estate Regulatory Agency, a government agency, the regulatory arm of Dubai Land Department. RERA was founded on July 31, 2007, by virtue of Dubai Law No. (16) of 2007 Establishing the Real Estate Regulatory Agency.
The primary objective of the Agency is to regulate the real estate sector in the Emirate of Dubai by contributing to the preparation of strategies related to the industry and to the development and implementation of the required action plans, including setting legislation regulating the relationship between contracting parties in the real estate market.
RERA involved in planning, organising and evaluating operations related to real estate licenses, organisation and development of real estate activities, monitoring property development projects financially and technically, to protect investors.
Dec 10, 2017
6209
Fundamental breach 1
Sometimes known as a repudiatory breach, is a breach of an essential part of a contract that it permits the distressed party to terminate performance of the contract, in addition to entitling that party to sue for damages.
Nov 2, 2012
331
Repudiatory breach 0
A breach of contract that is so fundamental that it permits the injured party to terminate the performance of the contract, in addition to entitling that party to sue for damages.
Jan 26, 2013
778
Material breach 0
Significant enough substantial failure in the performance of a contract, as to give the affected party the right to sue for damages as well as release the aggrieved party from its obligations.
May 12, 2014
167
Evidence 16
Any matter of fact that a party to a claim or action offers to provide to prove or disprove an issue in the case.
The strongest type of evidence is that which provides direct proof of the truth of an assertion. At the other extreme is evidence that is merely consistent with an assertion but does not rule out other, contradictory assertions, and may be viewed as circumstantial evidence.
Sep 11, 2012
3933
Force majeure 2
A common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties such as war, strike, riot, crime, or an event known as an act of God (such as a hurricane, flooding, earthquake, volcanic eruption etc.), prevents one or both parties from fulfilling their obligations under the contract.
In practice, most force majeure clauses do not exclude a party’s non-performance entirely, but only suspends it for the duration of the force majeure event.
Oct 1, 2013
670
Obligation 4
The term that describes a duty that is enforced by a court and where non-fulfilment may incur a penalty.
Oct 13, 2011
3406
Legal notice 31
The process whereby a party is made aware of the commencement of legal proceedings affecting their rights, obligations or duties.
Although the format may vary, there are strict requirements regarding service of a legal notice which must be adhered to if the legal notice to be effective.
Jul 25, 2007
7942
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