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1. Contract law.

An important term of a legal contract which, if breached, entitles the innocent party to terminate the contract as well as claim compensation.


More generally, an action, omission or relationship on which another action, omission or relationship is considered to be dependent; but not necessarily being formally linked in law.

3. Markets - macroeconomics - context.

Usually in plural, the relevant state of external markets or their broader context.

4. Physical assets.

Any measure of the physical state and usefulness of an older asset, compared with New.

Some descriptions and measures of physical condition are standardised in different sectors.

See also