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Ultra Vires

Latin for "beyond legitimate powers." It refers to an act or conduct (e.g., a transaction) by a corporation or its...

Unilateral Contract

A contract that entails the payment of an amount of money in exchange for performance of a promised act. The...

Undivided Interest

A jointly held interest, by two persons or more, in a property held under the same title. The undivided interest...

Unliquidated Demand

A demand (claim) for an amount of money that is not fixed or established at the time of claim. It...