secret rebate

secret rebate
A kickback of money by a business to a "preferred" customer, not offered to the public, or by a subcontractor to a contractor, but not shown on a job estimate. Both practices are illegal in most states as unfair business practices and may result in criminal penalties or refusal of a court to enforce a contract (written or oral) in which there is such a secret rebate.
Category: Business, LLCs & Corporations
Category: Personal Finance & Retirement

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

secret rebate
n.
   a kickback of money by a business to a "preferred" customer, not offered to the public or by a subcontractor to a contractor not shown on a job estimate. Both are illegal in most states as unfair business practices and may result in criminal penalties or refusal of a court to enforce a contract (written or oral) in which there is such a secret rebate.
   See also: rebate

Law dictionary. . 2013.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • secret rebate —    A kickback of money, particularly by a subcontractor to a general contractor, that is not shown on a job estimate. This is illegal in most states and could lead to a contract being judged invalid or to criminal penalties …   Business law dictionary

  • rebate — re·bate / rē ˌbāt/ n: a refund or deduction of part of a payment, price, or charge re·bate / rē ˌbāt, ri bāt/ vb Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • rebate —    Money that is returned to a buyer because he or she has paid too much, or because of a discount. A secret rebate given by a subcontractor to a general contractor in return for getting a job is illegal because it cheats the person hiring the… …   Business law dictionary

  • rebate — rebate1 rebatable, rebateable, adj. rebater, n. n. /ree bayt/; v. /ree bayt, ri bayt /, n., v., rebated, rebating. n. 1. a return of part of the original payment for some service or merchandise; partial refund. v.t. 2. to allow as a discount …   Universalium

  • List of law topics (S-Z) — NOTOC Law [From Old English lagu something laid down or fixed ; legal comes from Latin legalis , from lex law , statute ( [http://www.etymonline.com/index.php?search=law searchmode=none Law] , Online Etymology Dictionary; [http://www.m… …   Wikipedia

  • Henry H. Rogers — Henry Huttleston Rogers (January 29 1840 ndash; May 19 1909) was a United States capitalist, businessman, industrialist, financier, and philanthropist. [cite news |first= |last= |authorlink= |coauthors= |title=Henry H. Rogers Dies Today. |url=… …   Wikipedia

  • United States antitrust law — is the body of laws that prohibits anti competitive behavior (monopoly) and unfair business practices. These competition laws make illegal certain practices deemed to hurt businesses or consumers or both, or generally to violate standards of… …   Wikipedia

  • Anti-competitive practices — are business or government practices that prevent and/or reduce competition in a market (see restraint of trade). Anti competitive practices These can include: * Dumping, where a company sells a product in a competitive market at a loss. Though… …   Wikipedia

  • United Kingdom — a kingdom in NW Europe, consisting of Great Britain and Northern Ireland: formerly comprising Great Britain and Ireland 1801 1922. 58,610,182; 94,242 sq. mi. (244,100 sq. km). Cap.: London. Abbr.: U.K. Official name, United Kingdom of Great… …   Universalium

  • Timor Sea Treaty — Formally known as the Timor Sea Treaty between the Government of East Timor and the Government of Australia was signed between Australia and East Timor in Dili, East Timor on May 20, 2002, the day East Timor attained its independence from United… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”