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A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
The Lloyd's Open Form, formally "Lloyd's Standard Form of Salvage Agreement", and commonly referred to as the LOF, is a standard form contract for a proposed marine salvage operation. Originating in the late 19th century, the form is published by Lloyd's of London and is the most commonly used form for international salvage.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
A standard form contract can become a contract of adhesion if the difference in bargaining power between the parties is sufficiently inequitable. Valkyryn 22:19, 3 October 2007 (UTC) [ reply ] Having found no argument or justification for the inclusion of the neutrality tag whatsoever, I am removing the tag.
Tilden Rent-A-Car Co. v. Clendenning (1978), 83 DLR (3d) 400 is a leading Canadian contract law decision from the Court of Appeal for Ontario on standard form contracts.The Court held that a party can only be bound to a signed standard form contract when it is reasonable to believe that they consented to the terms.
In contract law, the term "boilerplate language" or "boilerplate clause" describes the parts of a contract that are considered standard.A standard form contract or boilerplate contract is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed ...