0
A price variation clause in law allows contract parties to adjust the price of goods or services based on specific factors such as inflation, currency fluctuations, or changes in market conditions. This clause helps to protect both parties from unforeseen cost increases during the term of the contract.
Add your answer:
Earn +20 pts
According to the Supremacy Clause what is the correct order of the ladder of laws in the US from top to bottom?
The correct order of the ladder of laws in the US from top to bottom is: the US Constitution, federal laws (including treaties), state constitutions, and state laws. The Supremacy Clause establishes that the US Constitution is the supreme law of the land, followed by federal laws and treaties.
Which clause in the 14th amendment overturned the Dred Scott decision?
The Equal Protection Clause in the 14th Amendment overturned the Dred Scott decision by guaranteeing that all persons within the United States are entitled to equal protection under the law. This clause protected the rights of all citizens regardless of race.
When Alaska passed a law in the 1970s that gave state residents preference over nonresidents in obtaining work on oil pipelines this law violated the?
When Alaska passed a law in the 1970s that gave state residents preference over nonresidents in obtaining work on oil pipelines, this law violated the Equal Protection Clause of the Fourteenth Amendment, which prohibits discrimination based on residency. It also may have violated the Dormant Commerce Clause, which prevents states from giving preference to in-state economic interests over out-of-state competitors.
When Alaska passed a law in the 1970s that gave state residents preference over nonresidents in obtaining work on oil pipelines this law violated what?
Alaska's law violated the Commerce Clause of the U.S. Constitution, which grants Congress the power to regulate interstate commerce. By favoring state residents over nonresidents in job opportunities, the law discriminated against out-of-state workers and interfered with the free flow of interstate commerce.
What statement refers to the law of supply?
Law of supply states that other factors remaining constant, supply is the function of its price where an increase in price of the commodity increases quantity supplied in the the market and a decrease in price reduces quantity supplied.
What to do when a contract has a variation clause and an extension of time clause that is unworkable?
describe and explain the term, "variation clause" as it applies to a contract and provide at least 3 examples variation clauses.The question is not clear, since the term "unworkable" extension of time clause is rather vague. The PVC purports to protect the interests of the vendor/contractor and at the same time would not allow the vendor/contractor to make undue profits from the clause. Hence, it is customary to specify that if an extension of time is granted to the vendor/contractor, (say due to the prevalence of a force majeure condition), no price variation would apply to the extended time. This condition would be part of the Contract Amendment documenting the extension of time.
What is variation clause?
A variation clause is a clause in a contract that allows for changes to be made to the terms and conditions of the agreement after it has been signed. It gives both parties the flexibility to adjust the contract if circumstances change or new developments arise.
Describe and explain the term variation clause as it applies to a contract and provide at least 3 examples variation clauses?
Variation Clause in a contract would allow a party to vary the terms stated in the contract, with no need for fresh consideration. Thus, it is easier for changes to contracts to be made. That said, the variation must be within reasonable limits. An example would be of the Variation Clause found in an employment contract, where the employer will be able to vary the salary of an employee. Another common example would be a Price Variation Clause that allows for fluctuation in prices of goods sold or services rendered. Another common example I can think of is with regards to the interest rates that banks provide for loans and probably savings accounts, depending on the economic environment. >> All the above are answered based on my general knowledge and is not to be taken as correct interpretations of variation clauses. I do not have any credentials.
What is the supremary clause?
The supremacy clause, which is a clause within Article VI of U.S. Constitution. It dictates that a federal law is "supreme law of the land".
Which clause established the US cinstitution as a supreme law of the land?
The Supremacy Clause
What constitutional clause is used to determine if a state law conflicts with federal law and is therefore invalid?
supremacy clause
What is the name of the clause that gives Congress broad power in law making?
The Elastic clause.
What is one purpose of the supremacy clause?
The supremacy clause in the constitution that creates the order of law and the legal system for the United States. The supremacy clause is the provision in Article Six, Clause 2 of the United States constitution.
Does the supremacy clause of the national constitution places federal law above state law?
Supremacy clause
What supremacy clause of the constitution allows?
Federal law to supersede state law.
What is low price sensitivity?
low price sensitivity means a variation in a demand for a product is not more or does not vary much according to variation in the price , depending on the factors that impact demand eg- necessary goods medicine .
What constitutional clause makes the laws of the federal government higher than the state law?
Supremacy clause
