According to its use, the term term can refer to various things.
In general terms, the term refers to the term or time indicated for the realization of a certain question. For example, the government is carrying out a public work and announces that it will be completed within one year.
But on the other hand, term will also be called upon expiration of that period of time in question. Because, for example, when you have to pay a certain tax that expires on the 25th of the next month, then, it will be said that the deadline to pay such tax obligation will be September 25, being that the current month is August.
While, At the request of the law, a term will be that certain future event on which the birth or extinction of a right will depend. This of the certainty has reason to be because the time that will mark the term cannot be that it does not arrive. Generally, the term is incorporated in contracts as an accidental type clause, because a contract may have a term or it may be an indefinite contract without any term, whereas, in cases where a contract is specified term, without this the contract disappears.
In another area in which the term term has a special importance is in the world of finance, since as fixed term It is known to those financial operations, by which banks, in exchange for the maintenance of certain immobilized monetary resources for a certain time, will report to whoever takes that fixed term, an individual or a company, a financial profitability that can be fixed or variable and that it will be manifested in money or in kind, as appropriate.
