Examlex
What is the difference between the effect of a tariff and the effect of a quota?
Bilateral Contract
A contractual agreement in which both parties exchange mutual promises to perform certain things.
Proportional Recovery
The concept of obtaining a share of recovery or compensation that is directly proportional to one's loss or investment.
Common Law
A legal system based on court precedents and customs, as opposed to statutory laws.
Preliminary Negotiations
Initial discussions aimed at reaching an agreement or understanding before formal negotiations commence.
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