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Simple English definitions for legal terms

equitable-adjustment theory

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A quick definition of equitable-adjustment theory:

Equitable-Adjustment Theory: This is a rule that says when there is a problem with a contract between the government and a company, the person in charge of the contract should make things fair for both sides. They should do this quickly so that the company doesn't have to wait too long to pay the people they owe money to.

A more thorough explanation:

The equitable-adjustment theory is a principle used in resolving disputes related to federal contracts. According to this theory, the contracting officer should make a fair adjustment within a reasonable time before the contractor has to settle with its subcontractors, suppliers, and other creditors.

For example, let's say a contractor is working on a federal project and encounters unexpected delays due to unforeseen circumstances. As a result, the contractor incurs additional costs and seeks compensation from the government. Under the equitable-adjustment theory, the contracting officer would review the contractor's claim and make a fair adjustment to compensate for the additional costs incurred.

The equitable-adjustment theory ensures that contractors are not unfairly burdened with additional costs due to circumstances beyond their control. By making a fair adjustment, the contracting officer can help the contractor avoid financial difficulties and maintain a positive relationship with subcontractors, suppliers, and other creditors.

equitable action | equitable adoption

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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