What do you mean by stipulation?

What do you mean by stipulation?

stipulate \STIP-yuh-layt\ verb. 1 : to make an agreement or covenant to do or forbear something : contract. 2 : to demand an express term in an agreement. 3 : to specify as a condition or requirement (as of an agreement or offer)

What is another word for stipulation?

In this page you can discover 30 synonyms, antonyms, idiomatic expressions, and related words for stipulation, like: condition, provision, arrangement, requirement, agreement, precondition, terms, obligation, demand, qualification and term.

What is a stipulation filing?

A “stipulation” is an agreement between two parties that is submitted to the judge for approval. It eliminates the need to go to court and have a judge decide an issue. A written “Stipulation and Order” includes the parties’ agreement, both of their notarized signatures, and the judge’s signature.

What is stipulation as to time?

The stipulation as to time may be with regards to the delivery of goods or it may be with regards to the payment of the price. This means that whether the stipulations as to the time of payment of the price is of the essence of the contract or not depends on the terms of the contract.

What is a condition?

1 : something essential to the appearance or occurrence of something else especially : an environmental requirement available oxygen is an essential condition for animal life. 2a : a usually defective state of health a serious heart condition. b : a state of physical fitness exercising to get into condition..

What is implied condition?

a condition in a contract that is not expressly stated or written. It maybe implied by fact and deed, viz. the parties’ actings; or it may be implied by law, either case law or statute. For an example, see QUALITY.

Who has the legal rights to transfer ownership of goods?

18 to 24 of the Indian Sale of Goods Act 1930 deal with the rules for the transfer of ownership which determine the time at which the ownership of the goods is transferred from the seller to the buyer. However, the general rule is that the transfer of ownership depends upon the intention of the parties to the contract.

What are express conditions?

The term express condition refers to an explicit contractual provision under which either: (1) A party to a contract does not come under a duty to perform unless and until a designated state of affairs occurs or fails to occur, or (2) If a designated state of affairs occurs or fails to occur a party’s duty to perform a …

What is meant by merchantable quality?

A product which is undamaged and usable and of sufficient quality to merit purchase at the requested price by a reasonable buyer. Related Terms: Consumer Goods, Misrepresentation.

Is the concept of let the buyer beware?

Caveat emptor is a Latin term that means “let the buyer beware.” Similar to the phrase “sold as is,” this term means that the buyer assumes the risk that a product may fail to meet expectations or have defects.

What is the literal meaning of caveat emptor?

Caveat emptor is a Latin phrase that can be roughly translated in English to “let the buyer beware.” While the phrase is sometimes used as a proverb in English, it is also sometimes used in legal contracts as a type of disclaimer.

What does caveat emptor mean in law?

let the buyer beware

What is the meaning of caveat Venditor?

let the seller beware

Why is there Latin in law?

Most lawyers love to throw around Latin phrases. The reason for this is that ancient Rome’s legal system has had a strong influence on the legal systems of most western countries. After all, at one time, the Romans had conquered most of Europe, the Middle East, and North Africa.

Who protects caveat emptor?

It protects the seller from liability when a buyer has remorse for making the purchase over something that they failed to notice simply because they did not make any effort look at the property before buying it.

Which states are caveat emptor?

While there’s no hard-and-fast list of which states follow caveat emptor and which don’t, Alabama, Arkansas, Georgia, North Dakota, Virginia, and Wyoming are largely known as caveat emptor states. In others, courts have upheld the principle only some of the time.

Is Ohio a buyer beware state?

As a general rule, Ohio follows the doctrine of caveat emptor in all real estate transactions, which precludes a purchaser from recovering for a structural defect if: “(1) the condition complained of is open to observation or discoverable upon reasonable inspection; (2) the purchaser had the unimpeded opportunity to …

Is Florida a full disclosure state?

Some legal experts maintain that, as a seller, you may make disclosures either verbally (with some statutory exceptions) or in writing. Florida law does not definitively require all disclosures to be in writing.

Is Florida a non disclosure state?

But, there are 12 states that are still considered “non-disclosure:” Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming. In a non-disclosure state, transaction sale prices are not available to the public.

Is sellers disclosure mandatory in Florida?

While a Seller’s Property Disclosure Form is not required under Florida law, Florida law does require seller’s and their realtors to disclose any significant property defects that may not be easily visible to the buyer. Buyers still have the responsibility to have the property inspected.

Is radon disclosure required in Florida?

Florida Statute 404.056(5) makes it illegal for a real estate professional to fail to disclose in writing of the dangers of radon gas. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida.