Covenant

A promise.

Purpose

Covenants are legally binding agreements or promises between parties, often found in contracts and legal documents. They outline specific obligations or restrictions, ensuring parties adhere to agreed terms.

Examples of Use

1. Including a covenant in a lease agreement where the tenant promises not to make structural changes to the property.
2. A covenant in a business contract stipulating that one party will deliver goods by a certain date.
3. In property deeds, covenants may restrict the types of structures that can be built on the land to maintain neighborhood aesthetics.

Related Terms

• Contract: A legally binding agreement between two or more parties.
• Agreement: A mutual arrangement between parties regarding their rights and responsibilities.
• Clause: A specific provision or section within a contract that outlines particular terms or conditions.

Notes

Covenants can be affirmative (requiring action) or restrictive (prohibiting action). They are enforceable by law and can have significant implications if breached.