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Conventional

   Also found in: Dictionary/thesaurus, Acronyms, Idioms, Encyclopedia, Wikipedia, Hutchinson 0.07 sec.

Derived from or contingent upon the mutual agreement of the parties, as opposed to that created by or dependent upon a statute or other act of the law.

A conventional home mortgage is one in which the interest rate is agreed upon by the parties to it: the borrower and the lender.

HEIR, CONVENTIONAL, civil law. A conventional heir is one who takes a succession by virtue of a contract; for example, a marriage contract, which entitles the heir to the succession.
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