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A contingent contract is an agreement that states which actions under certain conditions will result in specific outcomes. [1] Contingent contracts usually occur when negotiating parties fail to reach an agreement. The contract is characterized as "contingent" because the terms are not final and are based on certain events or conditions ...
In contract law, an incomplete contract is one that is defective or uncertain in a material respect. A complete contract in economic theory means a contract which provides for the rights, obligations and remedies of the parties in every possible state of the world. [1]
Non-financial assets, such as land and buildings, may also be included. For example, dictionary definitions of money include "wealth reckoned in terms of money" and "persons or interests possessing or controlling great wealth", [8] neither of which correspond to the economic definition.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
If a contract specifies "subject to finance", it may impose certain obligations on the purchaser: [41] If the contract is silent on the level of effort required by the finance seeker (usually purchaser) to obtain finance, the finance seeker may come under an implied duty to cooperate.
A reading under 100 indicates a weaker pace of pending contracts. ... senior economic research analyst at Realtor.com, said in an emailed statement. ... Under the new projection, the annual median ...
Contract theory in economics began with 1991 Nobel Laureate Ronald H. Coase's 1937 article "The Nature of the Firm". Coase notes that "the longer the duration of a contract regarding the supply of goods or services due to the difficulty of forecasting, then the less likely and less appropriate it is for the buyer to specify what the other party should do."
Learn about contingent staffing, including what it is and how to get started with a contingent workforce. Find the benefits, plus other essential information. Contingent Staffing: Essentials and ...