- An agreement in which a producer agrees to sell its entire production to a buyer, who in turn agrees to purchase the entire output- such as might exist between a farmer and a supermarket chain.
Business law dictionary. 2015.
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output contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. output contract … Law dictionary
Output contract — Contract law Part … Wikipedia
output contract — A contract in which one party agrees to sell his entire output and the other agrees to buy it; it is not illusory, though it may be indefinite. Such agreements are governed by U.C.C. No. 2 306. See also requirements contract. contract entire… … Black's law dictionary
output contract — noun a contract in which you promise to deliver your entire output to the other party who promises to accept it • Hypernyms: ↑contract … Useful english dictionary
entire output contract — Promise to deliver one s entire output (i.e. production) to the other. If no other detriment can be located, it will be found in the promisor s having surrendered his privilege of selling elsewhere. Such agreements are governed by U.C.C. No. 2… … Black's law dictionary
contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… … Law dictionary
output — I noun accomplishment, achievement, amount produced, avail, benefit, creation, crop, discharge, earnings, effectuation, emanation, end, end product, fruit, gain, harvest, issuance, issue, manufactured product, merchandise, outcome, proceeds,… … Law dictionary
contract — An agreement between two or more persons which creates an obligation to do or not to do a particular thing. As defined in Restatement, Second, Contracts No. 3: A contract is a promise or a set of promises for the breach of which the law gives a… … Black's law dictionary
Contract theory — This article is about the economic analysis of contracts. For legal definitions and contract law, see Contract. For a less technical discussion of this topic, see Principal agent problem. In economics, contract theory studies how economic actors… … Wikipedia
requirements contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. requirements contract … Law dictionary