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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

rider

Law; Contracts

Additional clause, document, or slip of paper that adds, alters, amends, or removes the provisions of an associated or attached agreement or contract (such as an insurance policy) ...

right of first refusal

Law; Contracts

Contractual right under which a seller must give a party (such as a partner) an opportunity to match (within a specified timeframe) a price at which a third party agrees to buy a ...

risk allocation

Law; Contracts

This is an alternative term for risk diversification.

risk diversification

Law; Contracts

Allocation of proportional risk to all parties to a contract, usually through a risk premium. Also called risk allocation.

possessor in bad faith

Law; Contracts

One who takes possession of land or other assets as counterparty to a contract, despite having knowledge or awareness that the transaction is not strictly in accordance with all ...

possessor in good faith

Law; Contracts

One who takes possession of land or other assets in the process of executing a contract believed to be legitimate, even if elements of it are found to be not in accordance with ...