tender - (1) the unconditional offer of performance on one party?s obligations under a bilateral contract. For example, a tender of performance by a buyer of real property might be the act of placing funds equal to the full purchase price plus costs into escrow. A tender is often performed to provide convincing evidence of a contract breach by the other party. For example, if the buyer has placed all necessary funds into escrow, and the seller refuses to deliver a deed, the seller may be in default and subject to suit. See also bilateral contract and breach of contract. (2) the act of performing a contract obligation or completing the performance of such an obligation.

© 2004 Bella Vista Publishing Company, Inc.  ISBN 0-9718225-0-6

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