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tender legal definition
noun
- An unconditional offer of performance in order to satisfy a debt. It may be offered to save the party making the tender from a penalty for nonpayment or lack of performance. On the other hand, if the other party should refuse the tender without a justifiable reason, that party may be placed in default.
- Something offered in order to settle a debt or obligation.
- An offer put forward in hope of acceptance.
- Something that serves as a means of payment, such as banknotes or coin (as in, legal tender).
tender of delivery
The placement by a seller at the disposal of the buyer,
that is, arranging delivery of those paid for goods in a timely manner.
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