Dictionary

Time Is Of The Essence

Definition:   a contract clause that emphasizes punctual performance as an essential requirement of the contract Pronunciation:   \ˈe-sən(t)s\ Used in a Sentence:   The words “time is of the essence” in a...

Tier

Definition:   a row of townships extending east and west in the government survey method Pronunciation:   \ˈtir\ Used in a Sentence:    A township tier is numbered beginning at the base...

Third Party

Definition:   generally, a member of the public; not the principal or agent in a transaction Pronunciation: Used in a Sentence:   The escrow agent was the third party in the contract...

Testate

Definition:   having left a valid will Pronunciation:   \ˈtes-ˌtāt, -tət\ Used in a Sentence:    She died testate.

Term Mortgage

Definition:   a nonamortizing loan that normally calls for repayment of the principal in full at the end of the loan term Pronunciation:    \ˈtərm\ \ˈmȯr-gij\ Used in a Sentence:    Our term mortgage...

Tenant In Common

Definition:   a form of ownership by two or more persons each having an equal or unequal interest and passing the interest to heirs, not to surviving tenants Pronunciation:   \ˈte-nənt\   \ˈkä-mən\...