requirements contract

requirements contract
requirements contract see contract

Merriam-Webster’s Dictionary of Law. . 1996.

requirements contract
A contract between a supplier or manufacturer and a buyer, where the seller agrees to sell all the particular products that the buyer needs, and the buyer agrees to purchase the goods exclusively from the supplier. Compare: output contract
Category: Business, LLCs & Corporations

Nolo’s Plain-English Law Dictionary. . 2009.

requirements contract
USA
A contract in which one party is obligated to supply all the goods or services required by the other party, and the other party is required to obtain all of its requirements for such goods or services exclusively from the first party.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


requirements contract
A written agreement whereby a buyer assents to purchase for a sufficient consideration (the inducement to enter into an agreement) all the merchandise of a designated type that he or she might require for use in his or her own established business.

Dictionary from West's Encyclopedia of American Law. 2005.


requirements contract
A written agreement whereby a buyer assents to purchase for a sufficient consideration (the inducement to enter into an agreement) all the merchandise of a designated type that he or she might require for use in his or her own established business.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

requirements contract
n.
   a contract between a supplier (or manufacturer) and a buyer, in which the supplier agrees to sell all the particular products that the buyer needs, and the buyer agrees to purchase the goods exclusively from the supplier. A requirements contract differs from an "an output contract," in which the buyer agrees to buy all the supplier produces.
   See also: output contract

Law dictionary. . 2013.

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Look at other dictionaries:

  • Requirements contract — A requirements contract is a contract in which one party agrees to supply as much of a good or service as is required by the other party, and in exchange the other party expressly or implicitly promises that it will obtain its goods or services… …   Wikipedia

  • requirements contract — A contract in which one party agrees to purchase his total requirements from the other party and hence it is binding and not illusory. See also output contract …   Black's law dictionary

  • requirements contract — A contract in which one party agrees to purchase his total requirements from the other party and hence it is binding and not illusory. See also output contract …   Black's law dictionary

  • requirements contract — noun a contract in which you agree to purchase all your requirements of a particular sort from one party • Hypernyms: ↑contract …   Useful english dictionary

  • requirements contract —    An agreement in which a producer agrees to sell to a buyer all of a particular kind of product that the buyer needs, before the producer looks for other buyers, and the buyer agrees to buy the goods only from the producer. This kind of… …   Business law dictionary

  • requirements contract — noun An agreement in which in which one party agrees to supply as much of a good or service as is required by the other party, and in exchange the other party expressly or implicitly promises that it will obtain its goods or services exclusively… …   Wiktionary

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • Requirements analysis — in systems engineering and software engineering, encompasses those tasks that go into determining the needs or conditions to meet for a new or altered product, taking account of the possibly conflicting requirements of the various stakeholders,… …   Wikipedia

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  • CONTRACT — (Heb. חוֹזֶה, ḥozeh), in general law theory a legally binding agreement between two or more parties, in terms of which one party undertakes for the benefit of the other to perform or refrain from a certain act. As such, contract is the main… …   Encyclopedia of Judaism

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