unanimous-consent agreement. Parliamentary law. An agreement, negotiated between opposing sides debating a motion, regarding the procedure under which the assembly will consider the motion. • The unanimous-consent agreement is a common practice in the U.S. Senate. — Also termed time agreement. See unanimous consent under CONSENT(2).
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extension agreement. An agreement providing additional time for the basic agreement to be performed. [Cases: Contracts 242. C.J.S. Contracts § 407.]
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consolidation, n. 1. The act or process of uniting; the state of being united. 2. Legislation. The combination into a single statutory measure of various legislative provisions that have previously been scattered in different statutes. 3. Civil procedure. The court-ordered unification of two or more actions, involving the same parties and issues, into a single
contract of affreightment ([schwa]-frayt-m[schwa]nt).Maritime law. An agreement for carriage of goods by water. • A contract of affreightment may employ a bill of lading, a charterparty, or both to ship the goods. — Abbr. COA. — Also termed contract of carriage. See CHARTERPARTY. [Cases: Shipping 104. C.J.S. Shipping §§ 247–250, 252–254.]
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agreed-boundary doctrine. The principle by which adjacent landowners resolve uncertainties over land boun-daries by permanently fixing the boundaries by agreement; specif., the rule that owners of contiguous land may agree on the boundary between the parcels, as long as the actual boundary is uncertain, there is agreement between the two owners about the boundary line,
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fair-trade law. A state statute that protects and enforces fair-trade agreements. • At one time, many states had fair-trade laws. But when applied to interstate commerce, the laws may violate the Sherman Antitrust Act, so most states have repealed them.
A promise, usu. in a sale-of-business, partnership, or employment contract, not to engage in the same type of business for a stated time in the same market as the buyer, partner, or employer. • Noncompetition covenants are valid to protect business goodwill in the sale of a company. In other contexts, they are generally disfavored
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acceleration, n. 1. The advancing of a loan agreement’s maturity date so that payment of the entire debt is due immediately. [Cases: Bills and Notes 129(2). C.J.S. Bills and Notes; Letters of Credit §§ 76, 92–100.] 2. The shortening of the time for vesting in possession of an expectant interest. — Also termed acceleration of
substantial-performance doctrine. The rule that if a good-faith attempt to perform does not precisely meet the terms of an agreement or statutory requirements, the performance will still be considered complete if the essential purpose is accomplished, subject to a claim for damages for the shortfall. • Under the Uniform Probate Code, a will that is
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Maritime law. An amount paid by a shipowner to a vessel’s charterer if the vessel’s cargo is unloaded at the port sooner than provided for in the agreement between the charterer and the shipowner. — Also termed dispatch. Cf. contract demurrage under DEMURRAGE. [Cases: Shipping 49(6). C.J.S. Shipping § 108.]