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Covenant |
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CovenantA formal agreement made in a deed.Similar MatchesBond covenantBond covenantA contractual provision in a bond indenture. A positive covenant requires certain actions, and a negative covenant limits certain actions. Positive covenant (of a bond)Positive covenant (of a bond)A bond covenant that specifies certain actions the firm must take. Also called an affirmative covenant. Deed of covenantDeed of covenantA legal document which records the obligation of one individual to pay a specified sum to another for a specified number of years.The individual making the payment deducts tax at the basic rate and thus pays a net amount on which tax relief is obtained. If the recipient is a registered charity the payer can obtain tax relief up to his/her higher rate whilst the charity can claim back the amount deducted.In other words, it is a tax effective way for individuals to give to charity. Deed of covenantDeed of covenantThis is a document which confirms that the buyer of a property will comply with the rules and conditions affecting the property which can be found in the Title Deed or Lease. Breach of covenantBreach of covenantThe failure to obey a legal agreement. Breach of warranty A seller's inability to pass clear title to a buyer. Further SuggestionsNegative covenantCovenants CC and Rs (Covenants, Conditions and Restrictions) Affirmative covenant Rate covenant Restrictive covenants |
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