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The Longer the Time Period That Suppliers Have to Adjust

question 278

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The longer the time period that suppliers have to adjust to price changes, the


Definitions:

Rectification

The legal process of amending a document or agreement to reflect what the parties intended to agree upon.

Privity Of Contract

A principle that contract terms apply only to the actual parties to the contract

Privity Of Contract

A doctrine in contract law that states only the parties involved in the contract have the right to sue or be sued on its terms.

Lease

A contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset for a specified period of time.

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