COMPENSATION n.
An equivalent stipulated for in contracts for the sale of real eatate, in which it is customary to privide that errors in description, etc., shall not avoid, but shall be the subject of compensation. Compensation balance, or Compensated balance, a kind of balance wheel for a timepiece. The rim is usually made of two di…
CONDITION n. 2 definitions
A clause in a contract, or agreement, which has for its object to suspend, to defeat, or in some way to modify, the principal obligation; or, in case of a will, to suspend, revoke, or modify a devise or bequest. It is also the case of a future uncertain event, which may or may not happen, and on the occurrence or non-o…
CONVENTION n.
An agreement or contract less formal than, or preliminary to, a traety; an informal compact, as between commanders of armies in respect to suspension of hostilities, or between states; also, a formal agreement between governments or sovereign powers; as, a postal convetion between two governments. This convention, I th…