Contractual Agreements

Competent Party
A person legally capable of entering a contract. They must be of legal age and not mentally incompetent or under the influence of intoxication.
Tying Contracts
Tying contracts are contractual agreements where sellers grant buyers access to a product only if the buyers also agree to purchase additional products. These agreements are forbidden under Section 3 of the Clayton Antitrust Act.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.