Business, Legal & Accounting Glossary
A form of contractual agreement that cannot be altered, withdrawn or terminated. The irrevocable nature of the commitment allows each party to advance under certain assumptions. The opposite of revocable.
Unable to be retracted or reversed; final.
Although you are unhappy with your inheritance, the will is irrevocable and as such cannot be changed.
Once the chairman signs the agreement, it will be binding and irrevocable.
Using drugs causes irrevocable harm to your body.
We hope that the damage caused by the tsunami is not irrevocable.
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This glossary post was last updated: 19th January, 2020