An adhesion contract, also known as a contract of adhesion, is a contract where the parties are of such disproportionate bargaining power that the party of weaker bargaining power could not have negotiated for variations in the terms of the contract.
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.
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.
See: agent for service of process
[Last reviewed in March of 2022 by the Wex Definitions Team]
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
An agreement is a manifestation of mutual assent by two or more persons to one another. It is a meeting of the minds with a common intention made through offer and acceptance. An agreement can be shown from words, conduct and in some cases, even silence.
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 all other forms of personal property. However, the general rights of property are subject to the police power regulations of the state, local, and federal governments.
Amortization has different meanings for loan payments and for taxes. In the context of loans, amortization 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, thereby gradually reducing the debt through repayment both lender and borrower agree.
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.”
The three key federal statutes in Antitrust Law are Sherman Act Section 1, Sherman Act Section 2, and the Clayton Act.
