An equivalent stipulated for in contracts for the sale of real estate, in which it is customary to provide that errors in description, etc., shall not avoid, but shall be the subject of compensation.
Something which is regarded as an equivalent; something which compensates for loss.
A recompense or reward for service.
The extinction of debts of which two persons are reciprocally debtors by the credits of which they are reciprocally creditors; the payment of a debt by a credit of equal amount.
The ability of one part of the brain to overfunction in order to take over the function of a damaged part (e.g. following a stroke).
The relationship between air temperature outside a building and a calculated target temperature for provision of air or water to contained rooms or spaces for the purpose of efficient heating. In building control systems, the compensation curve is defined to a compensator for this purpose.
The act or principle of compensating.
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.
The act of exchanging contracts.