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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.
Right of a third-party beneficiary to sue in order to enforce a third-party contract, i.e. the opposite of privity of contract. ius retentionis: right of retaining Lien (possessory) ius variandi: right of varying Free choice of court actions where concurrent actions lie, e.g. tort and criminal, or tort and breach of contract. laesio enormis ...
In business, an MoU is typically a legally non-binding agreement between two (or more) parties, outlining terms and details of a mutual understanding or agreement, noting each party's requirements and responsibilities—but without establishing a formal, legally enforceable contract (though an MoU is often a first step towards the development of a formal contract).
In sports, athletes in the final year of their contracts will ideally hit peak performance so they can negotiate robust, long-term contracts in their favor. [ 29 ] A union needs to negotiate and resolve any significant internal conflicts to maximize its collective clout before going to the table to negotiate a new contract with management.
Where a contract or term is voidable, the party entitled to avoid may either conditionally or unconditionally choose to affirm the contract or term as outlined in Article 3.2.9 of the Principles which states that "if the party entitled to avoid the contract expressly or impliedly confirms the contract after the period of time for giving notice ...
Unconscionability (sometimes known as unconscionable dealing/conduct in Australia) is a doctrine in contract law that describes terms that are so extremely unjust, or overwhelmingly one-sided in favor of the party who has the superior bargaining power, that they are contrary to good conscience.
In order for a negotiating side's leverage to work in their favor, the threats or promises they put forth must be perceived as credible by the opposing group. This does not mean that the threats and promises have to be based in facts, but the opposing group must believe that a specific threat or promise can be carried out and that it would make ...
Right of first refusal (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. A first refusal right must have at least three parties: the owner, the third party ...