exchange of contracts

English

Alternative forms

• exchanging contracts
• exchanging of contracts
• exchange (clipping)

Noun

exchange of contracts (plural exchanges of contracts)

1. (law, England and Wales, Northern Ireland) The act of exchanging contracts.
2. (law, England and Wales, Northern Ireland, idiomatic) 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.

Related terms

• exchange contracts