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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 Driver License Compact, a framework setting out the basis of a series of laws within adopting states in the United States (as well as similar reciprocal agreements in adopting provinces of Canada), gives states a simple standard for reporting, tracking, and punishing traffic violations occurring outside of their state, without requiring individual treaties between every pair of states.
Contract law regulates the obligations established by agreement, whether express or implied, between private parties in the United States. The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law.
In business, an MoU is typically a legally non-binding agreement between two (or more) parties, outlining terms and details of a mutual understanding or agreement, noting each party's requirements and responsibilities—but without establishing a formal, legally enforceable contract (though an MoU is often a first step towards the development of a formal contract).
Freedom of contract is the principle according to which individuals and groups may form contracts without government restrictions. This is opposed to government regulations such as minimum-wage laws , competition laws , economic sanctions , restrictions on price fixing , or restrictions on contracting with undocumented workers .
This includes agreements like the Treaty of Beaufort, which set the boundary between Georgia and South Carolina in 1787, and is still in effect. Prior to 1922, most interstate compacts were either border agreements between states or advisory compacts, the latter of which are tasked with conducting joint studies to report back to the respective ...
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