Clauses terms

GC AI Glossary

Clauses terms

9 terms from the GC AI glossary, each explained in plain English.

C

Carve-out
Clauses
An exception built into a clause that excludes specific situations or items from the general rule (e.g., carving out gross negligence from a liability cap).
Clause
ClausesPlain English priority
A distinct section or paragraph within a contract that addresses a specific legal or commercial topic, such as termination or liability.
Covenant
Clauses
A formal promise within a contract to engage in, or refrain from, a specified action.

D

Defined term
Clauses
A capitalized word or phrase in a contract that has a specific, agreed-upon meaning explicitly stated in the document's definitions section.

E

Exception
Clauses
A specified circumstance where the standard rules or obligations of a contract do not apply.

O

Obligation
Clauses
A legally binding requirement for a party to perform (or refrain from performing) a specific action.

P

Provision
Clauses
A condition or requirement specified within a legal document; often used interchangeably with 'clause'.

S

Section
Clauses
A major organizational division within a contract, which may contain multiple related clauses.

T

Term
Clauses
A specific condition, duration, or rule established within a contract.