Legal Definitions - term

Term refers to a specific period of time that is established by law or agreement. It can also refer to a clause or provision in a contract or deal.

• A president serves a term of four years.
• A lease may have a term of one year.
• A contract may have a forum selection clause which states that any conflict resulting from the contract must be decided in a specific state.
• A lease may have a clause establishing that the tenant may not have any pets in the leased property.

These examples illustrate how term can refer to a specific set of time, such as a presidential term or a lease term. They also show how term can refer to a clause or provision in a contract, such as a forum selection clause or a no-pets clause.