Definitions
American Heritage® Dictionary of the English Language, Fourth Edition
- n. A provision in a contract stipulating an increase or a decrease, as in wages, benefits, or prices, under certain conditions, such as changes in the cost of living.
Wiktionary
- n. law A clause in a lease or contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined.
WordNet 3.0
- n. a clause in a contract that provides for an increase or a decrease in wages or prices or benefits etc. depending on certain conditions (as a change in the cost of living index)
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Real Estate Law
The area I'm employed in - not as an attorney but a civil servant working as the clerk of a county assessment appeals board.
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