👉 The term "preundertaking" is a legal term used in several jurisdictions to refer to an agreement or contract that establishes the rights and obligations of one party before any financial or material consideration has been exchanged. This can include contracts for services, loans, investments, or other types of agreements. In some contexts, preundertakings may be considered as part of a larger transaction or project, rather than solely as an agreement between two parties. For example, in the context of a construction
