Conventional

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Conventional

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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.