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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.
conventionaladjective acceptable, accepted, accustomed, approved, classical, common, conformable, conforming, conforming to accepted standards, established, established by general consent, familiar, fitting, fixed, general, habitual, in established usage, long-established, natural, normal, of long standdng, ordinary, orthodox, permanent, prevalent, regular, routine, standard, time-honored, tradition-bound, typical, usual, widely used, wonted
Associated concepts: conventional interest, conventional life estate, conventional mortgage, conventional obligation, conventional sequestration, conventional subrogation, connentional trust
See also: accustomed, average, boiler plate, common, current, customary, familiar, formal, household, mundane, nondescript, normal, ordinary, orthodox, popular, prevailing, prevalent, proper, regular, right, routine, standard, standing, suitable, traditional, trite, typical, uniform, usual
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.