CONTRACTUALLY Meaning and
Definition
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Contractually refers to actions, obligations, or rights that are determined or governed by a legal agreement or contract between two or more parties. It denotes the terms and conditions agreed upon by the involved parties and outlines the rights and responsibilities they have towards each other.
When an agreement is considered to be contractually binding, it means that all parties involved are legally obligated to fulfill the specific terms and obligations outlined in the contract. These terms can include various aspects such as payment terms, delivery schedules, performance requirements, and dispute resolution processes, among others.
The use of the term "contractually" emphasizes that the agreement is not merely based on verbal or informal understandings, but rather on a formal contract or legal document. In this context, it signifies that the agreement is legally enforceable, and any failure to meet the agreed-upon terms may result in legal repercussions or remedies for breach of contract.
Contractually binding agreements provide a framework to protect the interests of all parties involved and provide a sense of security, as they establish clear expectations and guidelines on how the parties should conduct their activities. It is through these contractually agreed-upon obligations that parties can ensure fairness and maintain trust in business transactions or other legal relationships.
Top Common Misspellings for CONTRACTUALLY *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for CONTRACTUALLY
Etymology of CONTRACTUALLY
The word "contractually" is derived from the noun "contract" with the addition of the suffix "-ally".
The noun "contract" originated from the Latin term "contractus", which meant "drawn together" or "tightened". This Latin word was a combination of "con-" (together) and "trahere" (to draw). In the legal context, a contract refers to a legally binding agreement between two or more parties.
The suffix "-ally" is added to the noun "contract" to create the adverb "contractually". "-ally" is derived from the Latin "-alis", meaning "of, pertaining to, or characterized by". In this case, it denotes that something is done or happening in a manner related to or in accordance with a contract. Therefore, "contractually" describes something that occurs within the boundaries of a contract or is done in a contractual manner.
Similar spelling words for CONTRACTUALLY
- contrivance,
- contraction,
- contrarily,
- contract bridge,
- contraption,
- contract killing,
- contractable,
- connatural,
- contrasting,
- non-contractual,
- counterattack,
- contractor,
- contralateral,
- contrastive,
- contradictorily,
- contractile,
- contradance,
- contrarious,
- counteract,
- contracted,
- contradict,
- quasi-contractual,
- contract in,
- contractility,
- contract offer,
- contrarian,
- contrapuntal,
- arterio-contractile,
- pre-contractual,
- contractual,
- contravene,
- contradictory,
- contraclockwise,
- contrabass,
- Contractible,
- contracting,
- contract out,
- extra-contractual,
- Non-contractile,
- counteractively,
- counterfactual,
- contract law,
- contraband,
- contract law,
- contritely,
- contrastingly,
- contrariety,
- contracture.
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