A requirements contract is a legally binding agreement that addresses all of the requirements that one party may have regarding...
A job requisition is a formal request to hire someone for a job. The requisition contains the job details, including desired candidate qualifications, role requirements, and job details. Some companies also post the target salary or salary range in the requisition. What Is Requisition Reconciliation...
A contractionary policy is a tool used to reduce government spending or the rate of monetary expansion by a central bank to combat rising inflation. The main contractionary policies employed by the United States include raising interest rates, increasing bank reserve requirements, and selling government...
Building an investment portfolio may require personalization and finesse, but it can also be ultra-simple.
The product manager is typically responsible for requirements development and curation. However, a set of requirements can be influenced by any stakeholder, including customers, partners, sales, support, management, engineering, operations and product team members. ...
To form legal agreements that are binding and enforceable, you need to understand contract law and what constitutes a valid offer under contract law. An offer is considered valid when it meets certain requirements and may be implied or explicitly stated. An offer may be considered implied through...
Contract variations sound fairly straightforward so far, right? Well, there are a few important rules surrounding how and when you can vary a contract to make sure it’s legal. Let’s run through these requirements now. How to vary a contract There are three main ways that a contract can...
For a consideration to be valid, it must meet the following requirements: Considerations must be sufficient A“sufficient”consideration is one in which promises are things of value (money, assets, property, etc). However, the consideration need not be“adequate”in that it doesn’t have to re...
It is vital to judge acceptance objectively and make sure that it is stated or expressly implied in the conduct of the person offering it. For a contract to be binding, the acceptance of the offer must be relayed in a way that is authorized, requested, or reasonably expected by the ...
For an owner to even be eligible to receive liquidated damages, certain procedural and legal requirements must be met. For starters, liquidated damages are not to be used as a coercive tool. Their purpose is to compensate the owner for real or perceived losses as a result of a project delay...