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Contra proferentem (Latin: "against [the] offeror"), [1] also known as "interpretation against the draftsman", is a doctrine of contractual interpretation providing that, where a promise, agreement or term is ambiguous, the preferred meaning should be the one that works against the interests of the party who provided the wording.
"Time is of the essence" is a term used in contract law in England and Wales (a legal jurisdiction within the United Kingdom), Canada, Australia, New Zealand, other Commonwealth countries and the United States, expressing "the need for timely completion", [1] i.e. indicating that one or more parties to the agreement must perform by the time to which the parties have agreed if a delay will ...
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
A BAA is a contract between a covered entity and a business associate (or between a business associate and its subcontractor) aimed at documenting assurances related to the business associate’s ...
The power from positive leverage comes from the opportunity to provide or withhold the needed item or action. The strength of this type of leverage is determined by the other alternatives available to the opposition (often referred to as the "BATNA" or the best alternative to a negotiated agreement). If there are others who can also fulfill the ...
The promise must be real and unconditional. This doctrine rarely invalidates contracts; it is a fundamental doctrine in contract law that courts should try to enforce contracts whenever possible. Accordingly, courts will often read implied-in-fact or implied-in-law terms into the contract, placing duties on the promisor.
The parties have completely agreed to the terms, but have made the execution of some terms in the contract conditional on the creation of a formal contract; or; It is merely an agreement to agree lacking the requisite intention to create legal relations, and the deal will only be binding unless and until the formalized contract has been drawn up.
The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law. The law governing transactions involving the sale of goods has become highly standardized nationwide through widespread adoption of the Uniform Commercial Code .
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