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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

negotiation

Law; Contracts

1. General: Bargaining (give and take) process between two or more parties (each with its own aims, needs, and viewpoints) seeking to discover a common ground and reach an ...

no bid

Law; Contracts

Reply to an invitation to bid (ITB) stating that the respondent does not wish to submit a bid. Its purpose is to avoid debarment from the approved bidders list for failure to ...

no contest clause

Law; Contracts

Provision in a contract (or testament) that seeks to prevent a contracting party (or beneficiary) from challenging its terms.

no cost change

Law; Contracts

Contract change which, while not affecting the price of a contract, may incur overhead costs.

no oral modification clause

Law; Contracts

Provision in an agreement that prevents any non-written change in its terms.

no cost contract

Law; Contracts

That has no monetary consideration but pays back 'in kind.' Used mainly to avoid duplication of effort, it may be entered between a government (which has developed a new but ...

meeting of minds

Law; Contracts

Manifestation of mutual accord between the parties to a contract required under the older (early 19th century) subjective theory of contract. Modern (late 19th century) objective ...