exchange of contracts
(law, E&W, NI, idiomatic) The point or stage at which a conveyancing contract comes into existence between negotiating parties for the carrying out of a disposition of an estate in land; usually requi
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(law, E&W, NI, idiomatic) The point or stage at which a conveyancing contract comes into existence between negotiating parties for the carrying out of a disposition of an estate in land; usually requiring the payment of a deposit.
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(law, E&W, NI) The act of exchanging contracts.
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- exchange contracts85%
(law, E&W, NI, idiomatic) To formally contract to purchase, sell or otherwise be party to a disposition of an estate in land; usually requiring the payment of a deposit by one of the parties.
- exchange contracts80%
(law, E&W, NI, chiefly, by, legal practitioners) To create a contract for the disposition of an estate in land between negotiating parties, by a process which is immediately followed by the exchange of executed counterparts of the contract between each party's legal representative.
- excambion59%
(legal, Scotland, historical) exchange or barter, especially of lands.
- excambie58%
An obsolete Scottish legal term for the verb excamb, meaning to exchange lands or property. Scottish law allowed the exchange of lands by an agreement called an excambion, and excambie was the verbal form of that transaction. Entirely archaic and of interest only to historians of Scots law.