MLchartDataset catalogue

Requirements contract

Term · Law · MLC-T-LAW-004253

A contract in which a buyer agrees to purchase all of its needs for a specific good or service exclusively from a particular seller. The quantity is not fixed but is determined by the buyer's actual operational requirements. Such contracts are generally enforceable under the Uniform Commercial Code, provided the requirements are made in good faith.

Table 1. Record
IdentifierMLC-T-LAW-004253
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004253",
  "term": "Requirements contract",
  "field": "Law",
  "definition": "A contract in which a buyer agrees to purchase all of its needs for a specific good or service exclusively from a particular seller. The quantity is not fixed but is determined by the buyer's actual operational requirements. Such contracts are generally enforceable under the Uniform Commercial Code, provided the requirements are made in good faith.",
  "url": "https://mlchart.com/terminology/law/requirements-contract/"
}

Record 4,313 of 5,441 in Law terminology (MLC-0107). Request the full dataset.