UNILATERAL CONTRACT - A contract in which one party makes an
obligation to perform without receiving in return any express
promise of performance from the other party, such as an open
listing contract, where the seller agrees to pay a commission to
the first broker who brings in a ready, willing and able buyer.
UPSET PRICE - A minimum price set by a court in a judicial
foreclosure, below which the property may not be sold by a court
appointed commissioner at public auction; the minimum price
which can be accepted for the property after the court has had
the property appraised.
USEFUL LIFE - That period of time over which an asset, such as a
building, is expected to remain economically feasible
to the owner.
USURY - Charging a rate of interest in excess of that permitted
by law.
Spanish Fork Utah
Short Sales
