override


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override

(1) A carve-out from oil and gas lease royalty payments,usually a gross dollar amount per barrel of oil or per cubic foot of gas without diminution for costs of extraction.The override may be payable to the broker on the deal,to the attorney,or to some person other than the lessor with the mineral rights.(2) A name given to a clause, in a real estate listing contract, that requires payment of a commission to the listing broker if a buyer introduced to the property by the broker purchases the property within a certain time period after the listing agreement expires.The clause is to protect the broker for sales activities at the very end of the listing period that do not come into fruition until later.It also serves to protect the broker from buyers who learn about the property from the broker, take the broker's time in securing additional information and property inspections,and then attempt to time their offers until after the listing expiration in the hopes the seller will accept a lower price because then the seller does not have to pay a commission from the sale proceeds.

References in periodicals archive ?
Ideology clearly affects members' decisions to switch votes on veto override attempts.
Partisan differences help explain why ideology does not capture all of the variance in member behavior on override attempts.
Accounting for this change in operative preferences simultaneously solves two puzzles: (1) why do members outside the veto pivot change their votes between final passage and the veto override? and (2) which members inside the veto pivot are the most likely to switch their votes?
the override, including the costs associated with the potential that the
and (iv) the impact of the override on competition and the integrity of
the agency would prefer override and continuation of the contract.
has been the sole Japanese automaker to fit all models with the override systems.
Japanese automakers have generally refrained from fitting their vehicles with the override systems.
said, ''We will consider installing the override systems in the future.''
Courtney said he and other Senate Democrats weren't passing bills they otherwise would have blocked in order to win GOP support for the override.
Cases that are similar are treated differently because some are governed by the override and others by the overridden precedent.
More generally, this Article advocates for greater weight to be accorded to the significance of a statutory override of a precedent.