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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

advance payment guarantee

Law; Contracts

An alternative term for advance payment bond.

advisory and assistance services

Law; Contracts

These usually include architectural, engineering, or technical advise, analysis of the current policies, practices, and operations, assessment of systems requirements, training of ...

affirmation of contract

Law; Contracts

1. Action (or a failure to take action) performed with full knowledge of the facts, that establishes a contract as valid. For example, a buyer of goods affirms a purchase price by ...

affreightment

Law; Contracts

Chartering or hiring of a vessel as freight carrier. See also contract of affreightment.

agency by estoppel

Law; Contracts

Legally binding agency relationship that may arise where, in fact, no formal agency agreement is in effect. A principal may give an appearance of agency relationship by, for ...

agency problem

Law; Contracts

A conflict arising when people (the agents) entrusted to look after the interests of others (the principals) use the authority or power for their own benefit instead. It is a ...

agent

Law; Contracts

Party that has express (oral or written) or implied authority to act for another (the principal) so as to bring the principal into contractual relationships with other parties. An ...