Examlex
The acceptable quality level (AQL) is the average level of quality we are willing to accept.
Prudent Businessperson
An individual who exercises care, diligence, and wisdom in making business decisions, similarly to how a reasonable person would act under comparable circumstances.
Specific Performance
A legal remedy requiring a party to perform a specific act, often the completion of a contract, rather than paying damages for non-performance.
Contract Law
The body of law governing the formation, execution, and enforcement of agreements between parties.
Frustration
A legal doctrine freeing both parties from their contractual obligations if an unexpected event renders the contract impossible to fulfill.
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