Definitions for "SUBJECT TO CONTRACT"
Related Terms:
Bilateral contract, Contract , Agreement, Acceptance, Heads of agreement, Contracts, Stipulate, Missives, Executed contract, Interim agreement, Settlement agreement, Offer, Oral contract, Executory contract, Agreement of sale, Unilateral contract, Mutual assent, Exchange of contracts, Term, Performance, Consideration, Conditional contract, Valid contract, Meeting of minds, Agreement of purchase and sale, Conclusion of missives, Anticipatory breach, Sales agreement, Sales contract, Negotiated contract, Contract of sale, Retainer agreement, Purchase contract, Contract of purchase, Agreement, Meeting of the minds, Sale and purchase agreement, Escrow agreement, Purchase agreement, Negotiate, Exchange agreement, Quasi-contract, Letter of intent, Offer to purchase, Accord, Extension agreement, Master agreement, Letter of intent, Agreement, Implied contract
The agreement of a buyer to purchase a property, subject to certain conditions and satisfactory title being provided by the seller.
This is a legal phrase used before contracts are exchanged, which allows either the buyer or the seller to withdraw from the proposed sale without penalty.
These words should appear in every letter to the seller, the solicitor or agent, before contracts are exchanged. It is an accepted formula to stop a contract being created in correspondence.
Phrase to indicate that a legally binding contract is not yet in place.
a letter, draft agreement or offer which is not binding in law, used while agreeing terms.
For the entire period between a sale/purchase being agreed and exchange of contracts, the transaction remains "subject to contract" which means that it is not legally binding upon either party to proceed to exchange of contracts. Either party is legally entitled to withdraw or amend the terms of the agreement for any reason.
Words to indicate that an agreement is not yet legally binding.
Occurs when the sale of the property has been provisionally agreed. It allows the buyer or the seller to withdraw without incurring any penalty.
Generally, an offer or acceptance made subject to contract means that no legally binding agreement or contract will exist until the formal contract has been completed by the parties. There may be a binding contract if the court can conclude that all the terms of a of a bargain have been agreed and set down in writing
When an offer is made to purchase a property 'subject to contract' it means that all the dealings are subject to the actual exchange of the contract itself. Nothing is binding on either the vendor or purchaser until the contracts are exchanged.
Wording of any agreement before the exchange of contracts, which allows either party to withdraw without incurring a penalty.
A provisional agreement made between buyer and seller, before exchange of contracts, which allows either side to back out without penalty (England and Wales only).
The phrase used before exchange of contracts which allows either party to withdraw without incurring a penalty.
an agreement in principle subject to a legal contract being signed by both parties
Negotiations which do not become binding until contracts are exchanged
A useful expression to prevent a binding agreement arising accidentally during negotiation. It means, "I am making no binding commitment at this stage because, in due course, there is to be a proper written agreement". Not to be confused with "without prejudice" which means something entirely different.
Provisional agreement made at the time of offer, which means the offer to purchase is not legally binding on either party until contracts are exchanged.
A term often used by estate agents to signify that a statement or offer they make is subject to ratification by a formal contract and is not binding upon them or their client until that time.
a phrase which, if incorporated in a document, means that document shall not be a contract, or evidence thereof. Title number – the Land Registry reference number alloted to each register Under offer - the status of a property for sale, when a seller has accepted an offer from a purchaser but prior to exchange of contracts.
words used at the head of documents swapped by parties during negotiations. They denote that the document is not an offer or acceptance and that negotiations are still going on.
A provisional agreement between the house buyer and the house seller that is not legally binding.
A phrase used as a provisional agreement before contracts have been exchanged where either party may still withdraw from the transaction. Often seen on estate agents boards.
The period during which the sale is agreed, but there is not yet a binding legal contract; either party could still back out with no legal comeback
A far-reaching term generally meaning that none of the negotiations for sale or purchase of a property shall be binding on either party until the contract is fully signed and therefore concluded.
A clause spelling out the intention of the two parties in any document that a formal contract will be entered into at a later stage; an agreement made "Subject to contract" is generally not binding.
A provisional agreement made between buyer and seller, before exchange of contracts, which allows either side to back out without penalty. erm Length of time over which your mortgage loan is to be paid.