Business Negotiations and Contracts

From Wikistudy.ByJuho.fi
Revision as of 12:41, 5 November 2013 by Jukeboksi (talk | contribs) (definition of w:consideration)
  • 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 )