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Define That Term #268

Dictionary_2 The most recent term was determinable, which is defined as:

adj. defining something which may be terminated upon the occurrence of a particular event, used primarily to describe an interest in real property, such as a fee simple determinable, in which property is deeded to another, but may revert to the giver or go to a third person if, as examples, the receiver (grantee) marries, divorces or no longer lives in the house.

Jim Rose was kind enough to offer a guess, but was a bit off the mark.

Today's term is:

undisclosed principal.

As always, no dictionaries, please.

Comments

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slickdpdx

Isn't that when you send out an agent to hide the identity of the principal because you don't wnat the idntity of the principle to affect the task, like when Disney bought the Florida land that became Disneyworld?

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