Idiom
exchange of contracts
Meaning
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.
Meaning adapted from Wiktionary, available under CC BY-SA 4.0.
Examples
“We sign the papers at the exchange of contracts.”
“The buyer paid the deposit during the exchange of contracts, making the house purchase official.”
“Following weeks of negotiation, both parties finally reached the exchange of contracts, legally committing them to the transfer of the property.”
Examples
simple
“We sign the papers at the exchange of contracts.”
contextual
“The buyer paid the deposit during the exchange of contracts, making the house purchase official.”
complex
“Following weeks of negotiation, both parties finally reached the exchange of contracts, legally committing them to the transfer of the property.”
Key words
Related idioms
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