Examlex
Clarification statements
Forbearance
An agreement between a debtor and lender to temporarily postpone repayment of a loan, often to avoid default.
Illusory Promise
signifies a statement that appears to be a promise but does not actually bind the party making it to a particular action or outcome, thus lacking the substance necessary for a valid contract.
Real Obligation
A legal obligation that is tied to a specific property, requiring the fulfillment of some duty relative to that property.
Unilateral Contract
A contract in which one party makes a promise in exchange for the other party's act, rather than a promise in return.
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