Ameraco

B:

BACKUP CONTRACT

An Agreement of Purchase and Sale for a particular property which is conditional (becomes binding) upon the failure of another Agreement for the same property.

BETTERMENT

The improvement of real estate that results in a rise in market value. Also, a legal concept of civil law: when a court award, judgment or order in favor of an injured party places that party in a better position than he would have been had his original injury never taken place.

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