Category: O

OPEN SPACE RETOTD Episode 00232

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OPEN SPACE An area of land or water dedicated for public or private use or enjoyment. Any land which has not had any significant buildings or structures erected on it. Most often used to describe desirable neighborhood features like parks.

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OBSOLESCENCE RETOTD Episode 00231

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OBSOLESCENCE In reference to the inadequacy, disuse, outdated, or non-functionality of facilities, infrastructure, products, or production technologies due to effects of time, changing market conditions, or decay (a factor considered in depreciation to cover the decline in value of fixed…

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OFFER TO PURCHASE RETOTD Episode 00132

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OFFER TO PURCHASE Document that lists the price, conditions and terms under which the buyer is willing to purchase the property. (Each of these means the same thing: offer to purchase, or purchase offer, or earnest money agreement, or contract…

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