contract knavery

Definition

Putting stipulations or clauses into loan contracts that are disadvantageous to the borrower. The borrower is ignorant of such provisions, and they are sometimes put into place regardless of guarantees and promises of the opposite. Common examples of this include prepayment penalties.
Browse Definitions by Letter: # 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
contract grades contract market