onerous contract


onerous contract
A contract supported by a valid consideration.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • onerous contract — ➔ contract1 * * * onerous contract UK US noun [C] ► LAW a formal agreement that brings disadvantages for one of the people or companies that have signed it: »One of the common problems facing businesses is that the business has at some point… …   Financial and business terms

  • onerous contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Onerous Contract — A type of contract where the costs involved with fulfilling the terms and conditions of the contract are higher than the amount of economic benefit received. According to the International Accounting Standards (IAS), there are two methods for the …   Investment dictionary

  • onerous contract — gratuitous and onerous contracts Gratuitous contracts are those of which the object is the benefit of the person with whom it is made, without any profit or advantage received or promised as a consideration for it. It is not, however, the less… …   Black's law dictionary

  • onerous contract — gratuitous and onerous contracts Gratuitous contracts are those of which the object is the benefit of the person with whom it is made, without any profit or advantage received or promised as a consideration for it. It is not, however, the less… …   Black's law dictionary

  • an onerous contract — nuostolinga sutartis statusas Aprobuotas sritis buhalterinė apskaita ir finansinė atskaitomybė apibrėžtis Sutartis, pagal kurią neišvengiamos sutartyje numatytų įsipareigojimų įvykdymo išlaidos viršija pagal tą sutartį numatomą gauti ekonominę… …   Lithuanian dictionary (lietuvių žodynas)

  • onerous — oner·ous / ä nə rəs, ō / adj 1: excessively burdensome or costly 2: involving a return benefit, compensation, or consideration an onerous donation used chiefly in the civil law of Louisiana see also onerous contract at …   Law dictionary

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • onerous — /ownaras/ A contract, lease, share, or other right is said to be onerous when the obligations attaching to it unreasonably counterbalance or exceed the advantage to be derived from it, either absolutely or with reference to the particular… …   Black's law dictionary

  • contract — a legally binding agreement between two or more parties. Glossary of Business Terms A legally enforceable agreement between two or more parties for performing, or refraining from performing, some specified act; e.g., delivering 5,000 bushels of… …   Financial and business terms


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