| No. | Item | Definition |
|---|---|---|
| 1. | acceptance | Agreement to offered terms |
| 2. | agreement | A mutual understanding with legal effect |
| 3. | amendment | A formal change to a contract |
| 4. | appendix | Supplementary attached section |
| 5. | approval | Formal acceptance or authorization |
| 6. | arbitration | Private dispute resolution process |
| 7. | assignment | Transfer of rights or duties |
| 8. | attachment | Document added to contract |
| 9. | audit | Formal review of records |
| 10. | authority | Legal power to act |
| 11. | bond | Financial guarantee of performance |
| 12. | breach | Failure to perform as promised |
| 13. | capacity | Legal ability to contract |
| 14. | clause | A distinct section of a contract |
| 15. | client | The receiving customer or buyer |
| 16. | compliance | Following laws and contract terms |
| 17. | confidentiality | Duty to keep information secret |
| 18. | consent | Permission given by a party |
| 19. | consideration | Value exchanged for a promise |
| 20. | contract | A legally binding agreement |
| 21. | counterparty | The other contracting party |
| 22. | credit | Amount applied against charges |
| 23. | damages | Money awarded for loss |
| 24. | deadline | Final date for completion |
| 25. | default | Failure to meet obligations |
| 26. | delegation | Transfer of performance duty |
| 27. | deliverable | An item to be provided |
| 28. | deposit | Money paid upfront |
| 29. | disclosure | Revealing information to others |
| 30. | dispute | A disagreement requiring resolution |
| 31. | documentation | Supporting written materials |
| 32. | draft | Preliminary version of contract |
| 33. | effective date | Date obligations begin |
| 34. | entire agreement | Contract contains all terms |
| 35. | estoppel | Bar against inconsistent claims |
| 36. | execute | Sign or carry out |
| 37. | execution copy | Final signable contract version |
| 38. | exhibit | Attached referenced document |
| 39. | expense | Cost incurred under contract |
| 40. | expiration | Natural end of contract term |
| 41. | extension | Additional time granted |
| 42. | fee | Charge for service |
| 43. | force majeure | Excusing event beyond control |
| 44. | governing law | Law controlling interpretation |
| 45. | grace period | Extra time before enforcement |
| 46. | guarantee | Assurance of performance or payment |
| 47. | indemnity | Protection against specified losses |
| 48. | inspection | Examination for compliance |
| 49. | insurance | Coverage against specified risks |
| 50. | interpretation | Meaning assigned to contract language |
| 51. | invoice | Bill requesting payment |
| 52. | jurisdiction | Court authority over disputes |
| 53. | liability | Legal responsibility for loss or damage |
| 54. | lien | Legal claim on property |
| 55. | litigation | Court process for disputes |
| 56. | loss | Financial or other harm |
| 57. | mediation | Assisted negotiation to settle dispute |
| 58. | milestone | A key scheduled project point |
| 59. | negotiation | Discussion to reach terms |
| 60. | notarization | Official witness certification |
| 61. | notice | Formal communication required by contract |
| 62. | novation | Replacing party or obligation |
| 63. | obligation | A duty required by contract |
| 64. | offer | Proposal capable of acceptance |
| 65. | option | Right to choose later |
| 66. | party | A person or entity involved |
| 67. | payment | Money due under contract |
| 68. | performance | Fulfillment of contractual duties |
| 69. | procurement | Acquiring goods or services |
| 70. | purchase order | Document authorizing a purchase |
| 71. | rate | Price per unit |
| 72. | record | Documented information kept |
| 73. | redline | Marked changes to draft |
| 74. | refund | Money returned to payer |
| 75. | reimbursement | Repayment of expenses |
| 76. | remedy | Relief for a breach |
| 77. | renewal | Extension for another term |
| 78. | requirement | Something contractually needed |
| 79. | retainer | Advance payment for services |
| 80. | risk | Chance of loss or harm |
| 81. | schedule | Planned timing of obligations |
| 82. | scope | The work covered by agreement |
| 83. | service level | Required standard of service |
| 84. | settlement | Agreement resolving a dispute |
| 85. | severability | Invalid part does not void all |
| 86. | signatory | Person authorized to sign |
| 87. | specification | Detailed technical requirement |
| 88. | statement of work | Detailed description of work |
| 89. | subcontractor | A contractor hired by another |
| 90. | supplier | A company providing goods |
| 91. | tax | Government charge on transaction |
| 92. | term | A provision or condition |
| 93. | termination | Ending the contract early |
| 94. | testing | Checking whether requirements are met |
| 95. | trigger | Event causing obligation or right |
| 96. | vendor | A seller or supplier |
| 97. | venue | Place where case is heard |
| 98. | waiver | Intentional giving up of rights |
| 99. | warranty | Promise about quality or performance |
| 100. | witness | Person observing signature |
