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Simple English definitions for legal terms

favored-nation clause

Read a random definition: constructive reduction to practice

A quick definition of favored-nation clause:

A favored-nation clause is an agreement between two countries or parties that states they will treat each other as well as they treat any other nation that is given preferential treatment. This means that if one country gives special treatment to another country, the country with the favored-nation clause will also receive that same treatment. This clause can also be found in contracts, especially in the oil and gas industry. It is also known as a most-favored-nation clause or MFN clause.

A more thorough explanation:

A favored-nation clause is a provision in a contract or agreement between two nations or parties that requires each to treat the other as well as it treats any other nation or party that is given preferential treatment.

For example, if Country A has a trade agreement with Country B that includes a favored-nation clause, and Country B later enters into a trade agreement with Country C that provides better terms than the agreement with Country A, then Country A is entitled to receive the same better terms as Country C.

The favored-nation clause can also be found in other types of contracts, such as oil-and-gas contracts. In these cases, the clause ensures that the parties involved are treated equally in terms of pricing and other conditions.

Overall, the favored-nation clause is designed to promote fairness and equality in international trade and other types of agreements.

favored nation | favorite of the law

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Dkk
18:50
Med law easy done
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
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