exchange of contracts
The key step in the process of transferring property is when the buyer and seller exchange signed contracts and thereby create a legally binding agreement between them.

Easyform Glossary of Law Terms. — UK law terms.

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  • exchange of contracts — exˌchange of ˈcontracts noun exchanges of contracts PLURALFORM [countable usually singular] PROPERTY when property is being bought and sold, the moment when the buyer signs the contract of sale and sends it to the seller, who also signs it,… …   Financial and business terms

  • exchange traded contracts — Exchange traded futures contracts are standardised in terms of delivery date, contract terms and amount. These are traded on the LIFFE. London Stock Exchange Glossary …   Financial and business terms

  • exchange-traded contracts — Exchange traded futures contracts are standardised in terms of delivery date, contract terms and amount. These are traded on the LIFFE. London Stock Exchange Glossary …   Financial and business terms

  • exchange of contracts — A procedure adopted in the sale and purchase of land in which both parties sign their copies of the contract, having satisfied themselves as to the state of the property, etc. , and agreed that they wish to be bound. There need be no physical… …   Big dictionary of business and management

  • exchange of contracts — /ɪksˌtʃeɪndʒ əv kɒntrækts/ noun the point in the sale of property when the buyer and the seller both sign the contract of sale, which then becomes binding …   Dictionary of banking and finance

  • Exchange-traded derivative contract — Exchange traded derivative contracts standardized derivative contracts (e.g. futures contracts and options) that are transacted on an organized futures exchange.These contracts can include futures , call and put . Part of the name of these… …   Wikipedia

  • exchange — An association of persons who participate in the business of buying or selling futures contracts or futures options. A forum or place where traders gather to buy or sell economic goods. With the advent of the computerized exchange, it is… …   Financial and business terms

  • Exchange — The marketplace in which shares, options and futures on stocks, bonds, commodities and indices are traded. Principal US stock exchanges are: New York Stock Exchange ( NYSE), American Stock Exchange ( AMEX) and the National Association of… …   Financial and business terms

  • exchange — /ɪks tʃeɪndʒ/ noun the act of giving one thing for another ♦ exchange of contracts the point in the sale of property when the buyer and the seller both sign the contract of sale which then becomes binding ■ verb 1. ♦ to exchange something (for… …   Marketing dictionary in english

  • exchange — 1) The trading of goods, stocks, shares, commodities, paper currencies, or other financial instruments. 2) The place in which such trading occurs, e. g. a stock exchange or commodities exchange. This may not necessarily have a physical location.… …   Big dictionary of business and management

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