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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 ...
In contract law, [ 1] a simple contract is a contract made orally or in writing or both of them rather than a contract made under seal. [ 2] Simple contracts require consideration to be valid, [ 3] but simple contracts may be implied from the conduct of parties bound by the contract. [ 4] William Blackstone observed in his Commentaries on the ...
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent [ 1] to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be ...
A memorandum of understanding ( MoU) is a type of agreement between two ( bilateral) or more ( multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action. [ 1] It is often used either in cases where parties do not imply a legal commitment or in situations where the parties cannot ...
Contract law. Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts (contracts by deed ). The concept has been adopted by other common law jurisdictions. The court in Currie v Misa [ 1] declared consideration to be a "Right, Interest, Profit, Benefit, or Forbearance, Detriment ...
In finance, a 'futures contract' (more colloquially, futures) is a standardized contract between two parties to buy or sell a specified asset of standardized quantity and quality for a price agreed upon today (the futures price) with delivery and payment occurring at a specified future date, the delivery date, making it a derivative product (i ...
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