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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

reciprocal agreement

Law; Contracts

1. General: Quid pro quo arrangement in which two or more parties agree to share their resources in an emergency or to achieve a common objective. 2. Data backup: Whereby two ...

reasonable payment

Law; Contracts

That, in its amount and nature, is consistent with the payments normally made for the same or similar goods or services.

recurring effort

Law; Contracts

Action repeated during the duration of a contract.

record drawings

Law; Contracts

Revised set of drawing submitted by a contractor upon completion of a project or a particular job. They reflect all changes made in the specifications and working drawings during ...

release condition

Law; Contracts

A formal condition or set of conditions set forth by one party in an agreement which, when met, allows the other party to take a particular action, such as to exit the agreement. ...

rejected bid

Law; Contracts

Response to an invitation to bid (ITB) that is unacceptable, because (1) another bid has been chosen, (2) bid fails to fall within the established competitive range, (3) absence ...

repudiation

Law; Contracts

Act, intention, or threat of disowning or rejection of an agreement already accepted or agreed to. Repudiation amounts to a breach of contract where the refusal to perform is ...