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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

or near offer (ONO)

Law; Contracts

Term commonly used with the price of a used or second-hand item offered for sale, to indicates that while the seller is open to price negotiations, he or she would not accept too ...

oral contract

Law; Contracts

Contract that is not in a written form, but is entirely valid and enforceable. Unlike in case of a written contract, however, it might be difficult to prove the existence and the ...

order for account

Law; Contracts

Court order to investigate the amount due from one party (an agent, for example) to another (a principal, for example) resulting from a contract or transaction between them.

order of discharge

Law; Contracts

1. Bankruptcy: Court order given at the end of bankruptcy proceeding, either automatically or (depending on the circumstances of the case) upon application by the bankrupt or the ...

out of scope change

Law; Contracts

Increase or decrease in the scope of work that is considered outside the statement of work on which a contract is based, and which requires a change in the contract cost or price.

output

Law; Contracts

1. The amount of energy, work, goods, or services produced by a machine, factory, company, or an individual in a period. 2. Computing: A result produced by a computer that is ...

output contract

Law; Contracts

Purchase contract under which a buyer commits to take the entire production of a supplier at agreed upon prices, during a specified period. Opposite of requirements contract.