Definition of TERM,


TERM,

contracts. This word is used in the civil, law to denote
the space of time granted to the debtor for discharging his obligation; there
are express terms resulting from the positive stipulations of the agreement;
as, where one undertakes to pay a certain sum on a certain day and also terms
which tacitly result from the nature of the things which are the object of the
engagement, or from the place where the act is agreed to be done. For instance,
if a builder engage to construct a house for me, I must allow a reasonable time
for fulfilling his engagement.


2. A term is either of right or of grace; when it makes part of the
agreement and is expressly or tacitly included in it, it is of right when it is
not part of the agreement, it is of grace; as if it is not afterwards granted
by the judge at the requisition of the debtor. Poth. on Oblig. P. 2, c. 3, art.
3; 1 Bouv. Inst. n. 719 et seq.




Source: Bouviers Law Dictionary 1856 Edition

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