covenant

Definitions

Accounting

  • noun a legal contract
  • verb to agree to pay annually a specified sum of money to a person or organisation by contract. When payments are made under covenant to a charity, the charity can reclaim the tax paid by the donee.

Construction

  • A term used to describe one or more specific points of agreement that may be set forth in a contract.

Law

  • noun a solemn agreement that is binding on all parties
  • noun a formal and legally binding agreement or contract, e.g. a lease, or a clause in an agreement of this kind
  • noun a lawsuit for damages that is brought because of the breaking of a legal covenant

Origin & History of “covenant”

The notion of ‘agreement’ in covenant comes originally from a literal ‘coming together’. It was borrowed from Old French covenant, a noun use of the present participle of the verb covenir ‘agree’, which was descended from Latin convenire ‘come together’ (source also of English convene, convenient, convention, convent, and coven). (modern French has restored the n, giving convenir.).
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