time agreement
time agreement. 1. A pact made by the party leaders in the U.S. Senate to limit the time allowed for debate on a bill or amendment. 2. UNANIMOUS-CONSENT AGREEMENT.
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north american free trade agreement
North American Free Trade Agreement. A 1994 agreement between the United States, Canada, and Mexico, designed to phase out all tariffs and eliminate many nontariff barriers (such as quotas) inhibiting the free trade of goods between the participating nations. • Among other provisions, it set minimum standards for intellectual-property protection afforded other members’ citizens. Negotiated
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gas balancing agreement
gas-balancing agreement. Oil & gas. A contract among owners of the production of a gas well to balance pro-duction if one owner sells more of the gas stream than the other owners do. “Gas balancing agreements address the problem of imbalances in production from a gas well or field. Co-owners frequently sell their share of
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gallagher agreement
Gallagher agreement. A contract that gives one codefendant the right to settle with the plaintiff for a fixed sum at any time during trial and that guarantees payment of the sum regardless of the trial’s outcome. City of Tucson v. Gallagher, 493 P.2d 1197 (Ariz. 1972). Cf. MARY CARTER AGREEMENT.
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tolling agreement
tolling agreement. An agreement between a potential plaintiff and a potential defendant by which the defendant agrees to extend the statutory limitations period on the plaintiff’s claim, usu. so that both parties will have more time to resolve their dispute without litigation. [Cases: Limitation of Actions 14. C.J.S. Limitations of Actions § 25.]
nonsolicitation agreement
nonsolicitation agreement. A promise, usu. in a contract for the sale of a business, a partnership agreement, or an employment contract, to refrain, for a specified time, from either (1) enticing employees to leave the company or (2) trying to lure customers away.
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earnout agreement
earnout agreement. An agreement for the sale of a business whereby the buyer first pays an agreed amount up front, leaving the final purchase price to be determined by the business’s future profits. • The seller usu. helps manage the business for a period after the sale. — Sometimes shortened to earnout.
postnuptial agreement
postnuptial agreement (pohst-n[schwa]p-sh[schwa]l). An agreement entered into during marriage to define each spouse’s property rights in the event of death or divorce. • The term commonly refers to an agreement between spouses during the marriage at a time when separation or divorce is not imminent. When dissolution is intended as the result, it is more
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section 8(f) agreement
section 8(f) agreement. Labor law. A labor contract that is negotiated between an employer in the construction business and a union that cannot demonstrate that it represents a majority of the employees at the time the contract is executed. 29 USCA § 158(f). • This is an exception to the general rule that an employer
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prenuptial agreement
prenuptial agreement. An agreement made before marriage usu. to resolve issues of support and property division if the marriage ends in divorce or by the death of a spouse. — Also termed antenuptial agreement; antenuptial contract; premarital agreement; premarital contract; marriage settlement. — Sometimes shortened to prenup. Cf. POSTNUPTIAL AGREEMENT ; COHABITATION AGREEMENT . [Cases:
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