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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

operating cost

Law; Contracts

Cost per unit of a product or service, or the annual cost incurred on a continuous process. Operating costs do not include capital outlays or the costs incurred in design and ...

operative

Law; Contracts

Part or segment of an agreement, legal instrument, or rule, that imparts meaning (or force or effect) to the whole.

operative words

Law; Contracts

Precise words through which the objective of an instrument is achieved.

optimal contract

Law; Contracts

A contract between parties that minimizes the costs as much as possible for all involved.

option

Law; Contracts

1. Contract to keep an offer open for a fixed period during which the offeror cannot withdraw the offer. 2. Formal contract between a seller (the optioner) and a buyer (the ...