Terms used in Contract Clause Samples
The "Terms used in Contract" clause defines the specific meanings of key words and phrases as they are used throughout the agreement. This clause typically lists important terms and provides clear definitions, ensuring that both parties interpret the language of the contract consistently. By establishing precise definitions, it eliminates ambiguity and reduces the risk of misunderstandings or disputes over the interpretation of contractual provisions.
Terms used in Contract. In the event that any of the terms used in the Agreement are defined by New Mexico statutes and division regulations, such terms shall be used in a manner consistent with any definitions contained in said statutes or regulations.