TENTATIVE CONTRACT Meaning and
Definition
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A tentative contract refers to an agreement or contractual arrangement that is not yet finalized or binding. It is a provisional agreement made between two or more parties, outlining the terms and conditions of a potential future contract. It acts as an initial step in the negotiation process, serving as a preliminary understanding until the final agreement is reached.
A tentative contract typically outlines the major aspects of the intended contract, including the rights and obligations of each party, the scope of work or services, the delivery or completion timeframe, and the agreed-upon price or compensation. While it signifies a mutual intent to move forward with a final agreement, a tentative contract is subject to further negotiation, revision, and approval.
The purpose of a tentative contract is to establish a foundation for the future binding contract, allowing the involved parties to address any potential issues or disagreements before finalizing the deal. It serves as a blueprint or roadmap that guides the negotiation process and helps the parties involved to identify and resolve possible areas of concern or contention. Once both parties are satisfied with the terms and conditions outlined in the tentative contract, it can be revised and transformed into a legally binding and enforceable agreement.
Common Misspellings for TENTATIVE CONTRACT
- rentative contract
- fentative contract
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- yentative contract
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- 5entative contract
- twntative contract
- tsntative contract
- tdntative contract
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- t4ntative contract
- t3ntative contract
- tebtative contract
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- tejtative contract
- tehtative contract
- tenrative contract
- tenfative contract
- tengative contract
- tenyative contract
Etymology of TENTATIVE CONTRACT
The word "tentative" comes from the Latin word "tentativus", which means "trying" or "experimental". It is derived from the verb "tentare", meaning "to try" or "test".
The word "contract" has its origins in the Latin word "contractus", which comes from two parts: "con", meaning "together", and "trahere", meaning "to draw". The Latin term "contractus" refers to an agreement or a binding legal relationship between parties.
Therefore, the term "tentative contract" combines the concept of an experimental or provisional agreement (tentative) with a legally binding agreement (contract). It suggests an agreement that is not yet final or fully executed and may be subject to further negotiation or changes.
