absorption, n. 1. The act or process of including or incorporating a thing into something else; esp., the application of rights guaranteed by the U.S. Constitution to actions by the states. 2. Int’l law. The merger of one nation into another, whether voluntarily or by subjugation. 3. Labor law. In a postmerger collective-bargaining agreement, a […]
A contract in which a seller promises to supply and a buyer to buy all the goods or services that a seller produces during a specified period and at a set price. • The quantity term is measured by the seller’s output. An output contract assures the seller of a market or outlet for the
lost-volume seller. A seller of goods who, after a buyer has breached a sales contract, resells the goods to a different buyer who would have bought identical goods from the seller’s inventory even if the original buyer had not breached. • Such a seller is entitled to lost profits, rather than contract price less market
lost volume seller Read More »
The right to represent a principal — esp. either to sell the principal’s products or to act as the seller’s real-estate agent — within a particular market free from competition. • Strictly speaking, an exclusive agency merely excludes all other brokers, but not the owner, from selling the products or property. — Also termed exclusive
short, adj. 1. Not holding at the time of sale the security or commodity that is being sold in anticipation of a fall in price (the trader was short at the market’s close). 2. Of or relating to a sale of securities or commodities not in the seller’s possession at the time of sale (a