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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

post bid shopping

Law; Contracts

Negotiations by a buyer (a prime contractor) with sellers (trade contractors) to obtain lower prices for goods and services that are to be consumed in the performance of an ...

possessory lien

Law; Contracts

Claim that is generally enforceable only if the lienor has the lienee's goods or property in possession. Liens such as agent's, artisan's, banker's, and carrier's, are examples of ...

post tender negotiations

Law; Contracts

Discussions between a principal (client or contractee) with the prospective suppliers (contractors), after the receipt of tenders (bids) but before the award of contract. These ...

post-merger integration

Law; Contracts

The part of the merger process, following the closing of the merger agreement itself, in which the assets, personnel, and business activities of the two companies participating in ...

potential termination liability

Law; Contracts

Sum of money (that includes all costs and fees) which a non-performing contracting party must pay to the other (aggrieved) contracting party. See also termination liability.

postpone

Law; Contracts

To defer the start of an activity or step until a definite or indefinite date, or until something else is done or occurs. See also delay.

pre-award survey

Law; Contracts

Evaluation of a prospective contractor's financial, operational, and organizational capabilities to assess the contractor's eligibility and responsibility, usually for large ...