term of a contract

Found in Anh - Anh (Wordnet)

Definition Noun : The period of time during which a contract conveying property to a person is in effect : This refers to the specific duration for which the conditions, rights, and obligations established in a contract are active and legally enforceable. Usage The term of a contract is a critical element that defines the lifespan of the agreement. It specifies the start date and the end date o...