An example of covenant is a peace treaty among multiple countries.
- a binding and solemn agreement to do or keep from doing a specified thing; compact
- an agreement among members of a church to defend and maintain its doctrines, polity, and faith
- an agreement of Presbyterians in Scotland in 1638 to oppose episcopacyalso called National Covenant
- an agreement between the parliaments of Scotland and England in 1643 to extend and preserve Presbyterianismalso called Solemn League and Covenant
- a formal, sealed contract
- a clause of such a contract
- a suit for damages for violation of such a contract
- Theol. the promise made by God to humanity and the relationship it established, as described in the Bible
Origin of covenantOFr, agreement, origin, originally , present participle of covenir ; from Classical Latin convenire: see convene
- A binding agreement; a compact. See Synonyms at agreement.
- Law a. A condition in a contract such as a deed or lease, nonperformance or violation of which gives rise to a cause of action for breach.b. A contract.
- In the Bible, a divine promise establishing or modifying God's relationship to humanity or to a particular group.
- One of the agreements supported by a Covenanter.
verbcov·e·nant·ed, cov·e·nant·ing, cov·e·nants
Origin of covenantMiddle English, from Old French, from present participle of convenir, to agree; see convene.
(third-person singular simple present covenants, present participle covenanting, simple past and past participle covenanted)
covenant - Investment & Finance Definition
The rules on a loan agreement that require certain financial conditions be met or prohibit other financial actions by the borrower. A covenant may limit how much additional debt can be issued, require financial targets such as sales and earnings to be met, limit the payment of dividends, and require that certain cash levels be maintained. If a covenant is violated, then the bank or loan issuer can require that the loan or note be immediately repaid.
covenant - Legal Definition
- A written and legally enforceable agreement or promise that is often a part of a contract or deed, especially one to maintain the status quo of something or to do or not do something during the term of the covenant.
- An implied promise that is incidental to a contract or deed.
- A warranty, especially one made in connection with the sale or transfer of land.
- Same as contract under seal; see contract.
- An action under the common law to recover damages for the breach of a contract under seal. See also assumpsit.
- A covenant of title, whereby the grantor promises that the grantee’s unimpaired use and enjoyment of the land will not be disturbed by anyone with a lien or superior right to the land.
- A covenant of title, whereby the grantor promises to indemnify the grantee against any defects in the title to the land conveyed or any disturbances of the unimpaired use and enjoyment of the land. Often considered synonymous with covenant of warranty.
- A covenant that restrict the use, occupancy, or disposition of real property (such as specifying the size of lots that the property can be divided into or the types of buildings that may be constructed on the land).
- See covenant not to compete.