What is fair and reasonable mean?
What is fair and reasonable mean?
If on this assessment the conduct is not found to be unfair or unreasonable, then it is taken to have been fair and reasonable and therefore lawful. It is of course possible for a court to find that the process was fair but the decision unreasonable, and vice versa. Fairness.
What are reasonable terms?
Reasonable Terms means, (i) with respect to the Initial Financing, the terms and conditions set forth in the Initial Financing Commitment and such other terms and conditions relating thereto which are commercially reasonable under current market conditions at the time that such financing is being sought, considered in …
What does reasonable mean in a contract?
According to Black’s Law Dictionary, the term “reasonable” is defined as “fair, proper or moderate under the circumstances.” Reasonable notice: Where no provision for terminating the contract has been given, the courts have concluded that a contract could be terminated on reasonable notice.
Does a contract have to be reasonable and fair?
Contracts Need Not Be Fair To Both Parties As Long As The Terms Are Clear. The words and phrases used by the parties will be assigned their common meaning, and we will ascertain the intended purposes based upon the meaning that would be given to it by a reasonable person.
What is fairness synonym?
equity, fair play, faithfulness, honor, impartiality, integrity, justice, justness, law, lawfulness, legality, rectitude, right, righteousness, rightfulness, truth, uprightness, virtue. Antonyms: dishonesty, favoritism, inequity, injustice, partiality, unfairness, unlawfulness, unreasonableness, untruth, wrong.
What do you call someone who is fair?
Something or someone that is fair is reasonable, right, and just. I wanted them to get a fair deal. Synonyms: unbiased, impartial, even-handed, unprejudiced More Synonyms of fair. fairly adverb. …
What are reasonable Endeavours?
An obligation to use ‘reasonable endeavours’ generally means that a party should adopt and pursue a reasonable course of action in order to achieve the desired result, bearing in mind its own commercial interests and the likelihood of success.
What is the difference between reasonable and commercially reasonable?
Reasonable efforts: still weaker standard, not requiring any action beyond what is typical under the circumstances. Commercially reasonable efforts: not requiring a party to take any action that would be commercially detrimental, including the expenditure of material unanticipated amounts or management time.
What’s another word for reasonableness?
What is another word for reasonableness?
| balance | common sense |
|---|---|
| logicality | moderation |
| practicality | rationality |
| sensibleness | wisdom |
| reasonability | sense |
What is the reasonable clause?
The reasonableness clause, not the warrant clause, is the lodestar guiding all governmental conduct under the fourth amendment, as the reasonableness clause requires that even warranted searches to be executed in a reasonable manner. …
What are the 5 principles of good faith?
Good faith (law)
- Offer and acceptance.
- Posting rule.
- Mirror image rule.
- Invitation to treat.
- Firm offer.
- Consideration.
- Implication-in-fact.
- Collateral contract.
What does fairness mean in the context of the legality of a contract?
“Fair dealing” usually requires more than just honesty. It generally requires that a party cannot act contrary to the “spirit” of the contract, even if you give the opposing party notice that you intend to do so.
What does fair and reasonable conditions mean?
Fair and reasonable conditions means appropriate conditions, including possible financial terms or royalty-free conditions, taking into account the specific circumstances of the request
What are fair and reasonable contract terms?
Fair and reasonable contract terms are enforced by the Unfair Contract Terms Act 1977 (UCTA). The UCTA restricts the limit businesses can place on potential liabilities when creating commercial contracts. The UCTA focuses on the contractual provisions and notices that limit or exclude liability.
What are fair and reasonable terms for student’s education expenses?
Fair and reasonable terms for any repayment provisions to the employer of the student’s/new graduate’s education expenses. Fair and reasonable terms will be agreed or settled by an arbitrator. Such Access Rights shall be granted on a non-exclusive basis under Fair and reasonable terms or royalty-free, as determined in the Project Agreement.
What makes a contract term fair and reasonable under UCTA?
Section 11 (1) of UCTA states that the contract term must be “… a fair and reasonable one to be included having regard to the circumstances which were, or ought reasonably to have been, known to or in the contemplation of the parties when the contract was made” to meet the reasonableness test.
