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Meet-or-release Contract
Meet-or-release contracts are contracts that include "meet or release" competition clause In language, a clause is a Constituent (linguistics), constituent or Phrase (grammar), phrase that comprises a semantic predicand (expressed or not) and a semantic Predicate (grammar), predicate. A typical clause consists of a subject (grammar), ...s. It is where a company agrees with a ustomerto sell a product at a certain given price. If, by any chance the customer finds a cheaper purchase the company must place their product at an equal or lesser value. The customer then has the option to be released from the contract only after giving the original company the opportunity to meet (or exceed) the less expensive offer. In some circumstances, exercising this clause's options may not be possible because the ustomerwould have to disclose a ompetitor'sconfidential offer in order to allow another company the opportunity to match the offer. References Contract clauses {{law-term-st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Law
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more Party (law), parties. A contract typically involves consent to transfer of goods, Service (economics), 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 referred to as contracting. In the event of a breach of contract, the injured party may seek legal remedy, judicial remedies such as damages or equitable remedies such as specific performance or Rescission (contract law), rescission. A binding agreement between actors in international law is known as a treaty. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that pacta sunt servanda, agreements must be honoured. Like other areas of private law, contract law varies between jurisdictions. In general, contract law is exercised and governed either under common law jur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition
Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition. Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources. Humans usually compete for food and mates, though when these needs are met deep rivalries often arise over the pursuit of wealth, power, prestige, and fame when in a static, repetitive, or unchanging environment. Competition is a major tenet of market economies and business, often associated with business competition as companies are in competition with at least one other firm over the same group of customers. Competition inside a compan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clause
In language, a clause is a Constituent (linguistics), constituent or Phrase (grammar), phrase that comprises a semantic predicand (expressed or not) and a semantic Predicate (grammar), predicate. A typical clause consists of a subject (grammar), subject and a syntactic Predicate (grammar), predicate, the latter typically a verb phrase composed of a verb with or without any object (grammar), objects and other Grammatical modifier, modifiers. However, the subject is sometimes unexpressed if it is easily deducible from the context, especially in null-subject languages but also in other languages, including instances of the imperative mood in English grammar, English. A complete simple sentence contains a single clause with a finite verb. Complex sentences contain at least one clause subordinated (dependent clause, ''dependent'') to an ''independent clause'' (one that could stand alone as a simple sentence), which may be co-ordinated with other independents with or without dependents. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
