Business Negotiations and Contracts: Difference between revisions
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* '''statute''' == law/rule | * '''statute''' == law/rule | ||
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'''[[w:Consideration|Consideration]]''' is the concept of legal value in connection with [[w:contract|contract]]s. It is anything of value promised to another when making a contract. It can take the form of money, physical objects, services, promised actions, abstinence from a future action, and much more. ( Wikipedia ) | |||
Revision as of 12:41, 5 November 2013
- covenant == an agreement w/a specific promise to do or not to do something
- non-competition covenant
- whereas == in contrast
- injunction == obligation
- breach == to break a boundary, to violate, to not fulfill
- rescind cancel w/ effect of being the same position as before signing the contract
- unwarranted == uncalled for, unjustified
- contention == disagreement
- contentious ( adj. )
- efficacious == effective
Counter offer is interpreted as rejection of offer.
- an offer => offeror - offeree
- a lease => lessor - lessee
- statute == law/rule
Consideration is the concept of legal value in connection with contracts. It is anything of value promised to another when making a contract. It can take the form of money, physical objects, services, promised actions, abstinence from a future action, and much more. ( Wikipedia )