Examlex
When a loan is amortized, a relatively high percentage of the payment goes to reduce the outstanding principal in the early years, and the principal repayment's percentage declines in the loan's later years.
Illegal Term
A provision in a contract or agreement that is not enforceable by law because it violates legal statutes or principles.
Sale of Business
The process of transferring ownership of a business from one party to another.
Restrictive Covenant
A clause in a contract which limits certain actions of the parties, often used in employment and real estate agreements.
Restraint of Trade
Legal contracts or agreements that restrict one party's right to engage freely in business or trade, intended to protect business interests.
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