Pacto



. Written, solemn, and binding agreement.

2. Binding promise explicitly or implicitly stipulated in a deed or contract (a loan agreement, for example), by a covenantee (a lender, for example), which the covenanter (a borrower, for example) must agree to (otherwise there is no agreement or deal). Once agreed to, the covenant is usually enforceable even if it is unwarranted and/or is unsupported by a consideration. A covenant need not be explicit if its implication is necessary to carry out the intention of the explicit covenant(s). Covenants can cover virtually anything; in a loan agreement, for example, covenants can restrict size of a firm’s total debt, salaries of managers, and dividends to shareholders.


Definición de Pacto

Término en inglés: Covenant


Más términos de la categoría p




Deja un comentario

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

Este sitio usa Akismet para reducir el spam. Aprende cómo se procesan los datos de tus comentarios.