business law
unconscionable
Definition from Nolo’s Plain-English Law DictionaryWhen one party to a contract takes advantage of the other due to unequal bargaining positions, perhaps because of the disadvantaged party's recent trauma, physical infirmity, ignorance, inability to read...
underwrite
Definition from Nolo’s Plain-English Law Dictionary1) To agree to pay an obligation which may arise from an insurance policy. 2) To guarantee purchase of all shares of stock or bonds being issued by a corporation, including an agreement to purchase by the...
Undue influence
In contract law, a defense that can be used by a party to argue against the formation of a binding contract between two parties. The use of undue influence by one party over another puts the free will of one of the parties entering the contract into...
Unenforceable
Description for a contract that will not be enforced by a court even though it is valid. An unenforceable contract provision is not void, and if the parties perform as stated in the contract, the court will not object. However, because of reasons...
Unfair competition
Overview
The law of unfair competition is primarily comprised of torts that cause economic injury to a business through a deceptive or wrongful business practice. Unfair competition can be broken down into two broad categories:
unfair...Unfair Labor Practices (ULPs)
Unfair Labor Practices: an overview
Under the [[national_labor_relations_act_nlra|National Labor Relations Act ("NLRA")]], there are three broad categories of Unfair Labor Practices ("ULPs"). The three categories of ULPs consist of those...
Uniform Commercial Code
A uniform code governing commercial transactions that has been adopted in some form by every state as well as by the District of Columbia. It includes sections pertaining to sales and leases of goods, negotiable instruments, and secured transactions...
Unilateral
One-sided. Often describes action by one of multiple parties, without the agreement or participation of others.
See Bilateral, Multilateral, Mutual, and Unanimous.
Unilateral Contract
Definition
A unilateral contract is a contract created by an offer than can only be accepted by performance.
OverviewIn a unilateral contract, there is an express offer that payment is made only by a party's performance. Another example of a...
Unincorporated
Not incorporated. Specifically -
1. A organization that has not been formed into a legal corporation.
2. Not combined or mixed with something else. Thus, in constitutional law, an unincorporated amendment of the U.S. Constitution is...