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Law

Of or pertaining to the system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties.

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Law > Contracts

estimated cost at completion

Law; Contracts

Current projection of what the final cost will be at the completion of a specific task or job.

escalator clause

Law; Contracts

This is an alternative term for escalation clause.

escape clause

Law; Contracts

Provision in a contract which, under specified conditions, allows a party to withdraw from the agreement or to change its conditions.

escalation clause

Law; Contracts

1. Construction: Provision in a contract for increasing or decreasing the contracted price for labor, material, etc., in step with the market prices or an agreed upon benchmark ...

entity purchase agreement

Law; Contracts

A method used in business succession planning whereby if a company consists of more than just one owner, it will purchase life insurance policies on the lives of all such owners ...