exchange of contracts
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English
Alternative forms
- exchanging contracts
- exchanging of contracts
- exchange (clipping)
Noun
exchange of contracts (plural exchanges of contracts)
- (law, England and Wales, Northern Ireland) The act of exchanging contracts.
- (law, England and Wales, Northern Ireland, idiomatic) The point or stage at which a conveyancing contract comes into existence between negotiating parties for the carrying out of a disposition of an estate in land; usually requiring the payment of a deposit.