Definition of legislative. 1  1a : having the power or performing the function of legislatingb : belonging to the branch of government that is charged with such powers as making laws, levying and collecting taxes, and making financial appropriations â compare executive, judicial.
The purchase agreement is contingent on the buyer's approval of this report and any other matters affecting the title. The preliminary title report lists liens and other encumbrances on the property, as well as any defects in the seller's chain of title discovered during the title search.
With a Purchase Agreement, normally what you find is language that says that as long as the purchase order issued complies with the terms of the Purchase Agreement it is issued under, that order is binding and enforceable. The difference between the two has nothing to do with the time period involved. A Blanket Purchase Order may be for long period and a purchase agreement may be for a very short period. The difference has nothing to do with the volume involved.