Define: Contract Race

UK Accounting Glossary

Definition: Contract Race



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Full Definition of Contract Race


A situation which is peculiar to England & Wales, in which a seller has received and accepted two or more offers on the property and will sell to whoever is ready to exchange contracts first.

Such situations were common in the feverish housing market of the mid-1980s.

Changes being considered by both main political parties to the legislation governing house sales may put an end to the occurrence of contract races.


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Contract Race. PayrollHeaven.com. Retrieved April 03, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/contract-race/

Definition Sources


Definitions for Contract Race are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 15th February 2020.