Discharge Of Contract: A contract is discharged when the agreement is terminated. Obviously, the most desirable case is when a contract terminates because it has been completely performed, with all its terms carried out. However, a contract may be terminated for other reasons, such as a partys breach or default.

 

Related Words

Discharge Of Contract: A contract is discharged when the agreement is terminated. Obviously, the most desirable case is when a contract terminates because it has been completely performed, with all its terms carri . . . View Full Definition

Perishable Agricultural Commodities Act (PACA) Of 1930: P.L. 71-325 (June 10, 1930), as amended, regulates the buying and selling of fresh and frozen fruits and vegetables to prevent unfair trading practices and to assure that sellers will be pai . . . View Full Definition

Periods Of English Literature: The common historical eras scholars use to divide literature into comprehensible sections through periodization. Dividing literature into these sometimes arbitrary periods allows us to bette . . . View Full Definition

Personal Responsibility and Work Opportunity Reconciliation Act Of 1996: P.L. 104-193 (September 22, 1996) was labeled as a major 'welfare reform' initiative. In addition to provisions making major changes to federal cash welfare, medicaid, work, and child care d . . . View Full Definition

Periodic Purchase Deferred Contract: A fixed or variable annuity contract for which fixed-amount premiums are paid either monthly or quarterly, and that does not begin paying out until a time elected by the annuitant.

Personal Tax View (Of Capital Structure): The argument that the difference in personal tax rates between income from debt and income from equity eliminates the disadvantage of the double taxation (corporate and personal) of income f . . . View Full Definition

Pianoforte: Original name for the piano.

Physician Profiling: In the context of a pharmacy benefit plan, the process of compiling data on physician prescribing patterns and comparing physicians' actual prescribing patterns to expected patterns within s . . . View Full Definition

Photoflood: Artificial light source using a tungsten filament lamp and a dish reflector.

Philadelphia Board Of Trade (PBOT): A subsidiary of the Philadelphia Stock Exchange that trades currency futures.