Search Results for: CONCESSIO

moral law

moral law. A collection of principles defining right and wrong conduct; a standard to which an action must conform to be right or virtuous. “It quite often happens that the moral law disapproves of something which the secular permits as a concession to human frailty.” Patrick Devlin, The Enforcement of Morals 78 (1968).

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spread

spread, n. 1. Banking. The difference between the interest rate that a financial institution must pay to attract deposits and the rate at which money can be loaned. 2. Securities. The difference between the highest price a buyer will pay for a security (the bid price) and the lowest price at which a seller will

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price discrimination

price discrimination. The practice of offering identical or similar goods to different buyers at different prices when the costs of producing the goods are the same. • Price discrimination can violate antitrust laws if it reduces competition. It may be either direct, as when a seller charges different prices to different buyers, or indirect, as

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reciprocity

reciprocity (res-[schwa]-pros-i-tee). 1. Mutual or bilateral action (the Arthurs stopped receiving social invitations from friends because of their lack of reciprocity). 2. The mutual concession of advantages or privileges for purposes of commercial or diplomatic relations (Texas and Louisiana grant reciprocity to each other’s citizens in qualifying for in-state tuition rates). — Also termed mutuality

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collective bargaining

collective bargaining. Negotiations between an employer and the representatives of organized employees to determine the conditions of employment, such as wages, hours, discipline, and fringe benefits. See CONCESSION BARGAINING. [Cases: Labor Relations 171. C.J.S. Labor Relations § 148.] “Collective bargaining means the joint determination by employees and employers of the problems of the em-ployment relationship.

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diplomatic protection

diplomatic protection. Protection given by one country’s representatives to a person, usu. its citizen, against another country’s alleged violation of international law. “The term diplomatic protection is not altogether precise. First, not only diplomatic agents and missions and other foreign offices may and do exercise diplomatic protection, but also, at a different level, consuls, and,

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