Business Terms and Jargon Explained

What is Gazumping

This term is used in the housing market where a seller accepts a second or third better offer even though they have already accepted a previous offer from someone else. This can happen because under the land law of England and Wales (but not Scotland) the seller is not committed until contracts are exchanged.

This can cause problems as if the person who made the first offer, which was accepted, sells their property on that basis or if they sold their property for less money on that basis then they may find themselves in difficulty.

<- Go Back
Business Terms Home page

Search Jargon and Terms Database

A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z

Search Term   

Bill of indictment Exempt Input Tax Interium
Deemed domicile Minority Interest Bandwidth
N92 Civil Court form BTW Petitioner
Audit Unanimous verdict Patents County Court
Dubitante UK Intellectual Property Office Nemo dat quod non habet
Retail price N9C Civil Court form IP
Adjournment Residential property TANGO
Encode Trust Ad Valorem
Exempt Persons Incentive Standing Order
Affiliate agreement Trademark Zip Code
Tenge Shekel Prima facie
Seigniorage Moving forward Litigation
Writ of Execution Oligopoly Temporary Importation

Term created / updated 2005-09-05 22:06:52

Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms and jargon, and explain them in Plain English. Its very easy to comprehend. Learn to understanding and know your business jargon. This will keep you informed among your peers. Bookmark Your business dictionary.

Copyright © 2004-2021 Scopulus Limited. All rights reserved.