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Definitions from the Web

Commisorry Pact

Description:

A commissory pact refers to a legally binding agreement or contract made between parties, where one party promises to pay a specific amount or perform a certain action at a later time.

Senses:

Sense 1: In the context of business or finance, a commissory pact can be an agreement where one party borrows money from another and promises to repay it with interest within a specified timeframe.

Sense 2: In a broader sense, a commissory pact can also refer to any agreement or contract that includes promises to fulfill certain obligations in the future.

Usages:

Usage 1: The entrepreneur entered into a commissory pact with a venture capitalist, ensuring the repayment of the investment within five years.

Usage 2: The company signed a commissory pact with a supplier, obligating them to deliver the ordered goods by the end of the month.

Related Products:

To gain further insights into commissory pacts and their legal implications, you may find the following books helpful:

• Contract Law
• Business Finance
• Legal Obligations