| Term | Definition |
| Valid Contract |
A binding, legally enforceable contract
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| Void Contract |
An agreement that isn’t an enforceable contract because it lacks a required element or is defensive in some other respect.
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| Voilable Contact |
A contract that one of the parties can disaffirm without liability, because of lack of capacity or a negative factor such as fraud or duress
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| VA mortgage |
A mortgage that is guaranteed by the Department of Veterans Administration
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| VA |
Veteran’s Administration.
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| Vested |
In real estate is when a person has a present, fixed right or interest in property, even through he or she may not have the right to possession until sometime in the future. For example remainderman’s interest in property vests when it is granted, not when the life estate ends
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| Veterans Administration (VA) |
An agency of the federal government that guarantees residential mortgages made to eligible veterans of the military services. The guarantee protects the lender against loss and thus encourages lenders to make mortgages to veterans.
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| Valley |
A trough formed by the intersection of two roof slopes.
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| Valley rafter |
A diagonal rafter that supports a valley.
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| Vapor barrier |
See vapor retarder.
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| Vapor retarder |
A layer of material intended to obstruct the passage of water vapor through a building assembly. Also called, less accurately, vapor barrier.
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| Varnish |
A slow-drying transparent coating.
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| Vault |
An arched surface.
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| Vee joint |
A joint whose profile resembles the letter V.
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| Veneer |
A thin layer, sheet, or facing.
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| Veneer-based lumber |
Linear wooden structural elements manufactured by bonding together strands or sheets of rotary-sliced wood veneer.
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| Veneer plaster |
A wall finish system in which a thin layer of plaster is applied over a special gypsum board base.
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| Veneer plaster base |
The special gypsum board over which veneer plaster is applied.
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| Vent spacer |
A device used to maintain a free air passage above the thermal insulation in an attic or roof.
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| Vermiculite |
Expanded mica, used as an insulating fill or a lightweight aggregate.
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| Vertical bar |
An upright reinforcing bar in a concrete column.
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| Vertical grain lumber |
Dimension lumber sawed in such a way that the annual rings run more or less perpendicular to the faces of each piece.
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| Vierendeel truss |
A truss with rectangular panels and rigid joints. The members of a Vierendeel truss are subjected to strong nonaxial forces.
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| Vinyl |
See polyvinyl chloride.
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| Vitrification |
The process of transforming a material into a glassy substance by means of heat.
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| Volume change joint |
A building separtion joint that allows for expansion and contraction of adjacent portions of a building without distress.
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| Voussoir |
A wedge-shaped element of an arch or vault.
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