Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

integrated contract

Read a random definition: vitium clerici

A quick definition of integrated contract:

An integrated contract is a final written agreement that includes all the terms of a deal. This means that any previous agreements or discussions are no longer valid and cannot be added to or changed. It is like putting all the pieces of a puzzle together to make a complete picture. There are two types of integration: complete and partial. Complete integration means that everything is included in the written agreement, while partial integration means that some things are left out and can be clarified with additional evidence. Integrated contracts are used in various fields, such as contracts, wills, and antitrust laws.

A more thorough explanation:

An integrated contract is a final expression of one or more terms of an agreement. It can be one or more writings that fully express the intent of the parties, so that all earlier agreements are superseded. This means that neither party may later contradict or add to the contractual terms.

For example, if two companies sign an integrated contract for the sale of goods, the contract will contain all the terms of the agreement, and neither party can later claim that there were additional terms that were not included in the contract.

There are two types of integration: complete integration and partial integration. Complete integration is when the contract fully expresses the intent of the parties, and parol evidence (evidence outside the contract) is inadmissible. Partial integration is when the contract does not fully express the parties' intent, and parol evidence is admissible to clear up ambiguities with respect to the terms that are not integrated.

Another example of integration is in the context of wills and estates. When a testator combines more than one writing into a single document to form their last will and testament, it is called integration. The other writing must be present at the time of execution and intended to be included in the will.

Integration can also refer to the incorporation of different races into existing institutions, such as public schools, for the purpose of reversing the historical effects of racial discrimination. This is known as desegregation.

In the business context, integration can refer to a firm's acquisition of ownership of facilities that produce raw materials or parts for the firm's products. This is called backward integration. It can also refer to a firm's performance of a function that it could have obtained on the open market, such as entering a new market on its own, acquiring a firm that operates in a secondary market, or entering into a contract with a firm that operates in a secondary market. This is called vertical integration.

Finally, in securities law, integration refers to the requirement that all security offerings over a given period are to be considered a single offering for purposes of determining an exemption from registration. The Securities and Exchange Commission and the courts apply five criteria to determine whether two or more transactions are part of the same offering of securities.

integrated bar | integrated property settlement

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
The profile links are not working for me. anybody else?
13:18
i’m in the same boat mastermonkey but with lower stats. i hope i hear back by mid march
CheeseIsMyLoveLanguage
13:24
@mastermonkey45: Looking at some of the recent decisions in relation to when they went complete, I'd say it's a good sign. It seems many declines were sent within about 5-6 weeks of completion. Given those were applications that were SENT in January, I'd say that means you're still solidly in the running. :)
14:30
Sent an app to OSU in early december and have STILL not heard back
LSD+ is ad-free, with DMs, discounts, case briefs & more.