An adhesion contract exists if the parties are of such disproportionate bargaining power that the party of weaker bargaining strength could not have negotiated for variations in the terms of the adhesion contract. Adhesion contracts are...
commercial law
advance
An advance is a type of loan or payment in which money or goods are given before consideration is received in return; usually with the expectation of repayment or adjustment in basis by the party receiving the advance.
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agent for acceptance of service
See: agent for service of process
[Last updated in March of 2022 by the Wex Definitions Team]
agent for service of process
An agent for service of process is the person designated by a business entity, such as a corporation or limited liability company (LLC), to receive legal documents and lawsuits on behalf of the business entity within the state in which the...
agreement
An agreement is a manifestation of mutual assent by two or more persons to one another.
It is a meeting of the minds in a common intention, and is made through offer and acceptance. An agreement can be shown from words, conduct, and in some...
alcohol
Alcohol is a set of chemical compounds consumed as a liquid by individuals for its intoxicating effect or used in industrial projects for its other unique properties.
Absent any specific regulation, alcohol is treated like...
amortization
Amortization has different meanings for loan payments and taxes. Amortization for loans refers to separating the payments for the loan principal and interest into periodic payments to where the loan is paid off at a specified time....
anchoring
In negotiations, “anchoring” refers to the common tendency of giving undue weight to the first value or number put forth, and to then inadequately adjust from or counter the first value or number, or the “anchor.”
Thus the...
antitrust laws
The three key federal statutes in Antitrust Law are Sherman Act Section 1, Sherman Act Section 2, and the Clayton Act.
The Per Se Rule v. the Rule of Reason:Violations under the Sherman Act take one of two forms -- either...
antitrust violations
Antitrust violations occur when an antitrust law is broken; laws protecting trade and commerce from abusive practices such as price-fixing, restraints, price discrimination, and monopolization. The three key federal statutes in Antitrust Law...