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LSDefine

Simple English definitions for legal terms

output contract

Read a random definition: criminal science

A quick definition of output contract:

An output contract is a type of agreement where a buyer promises to buy everything a seller produces. This is often used in agriculture or energy industries. The seller is guaranteed a market for their product at a set price and time. The seller cannot sell to other buyers, but this is considered fair because the buyer is providing a guaranteed market. The contract may also require both parties to try their best to fulfill the agreement.

A more thorough explanation:

An output contract is a type of agreement commonly used in agriculture or energy industries. In this contract, a buyer agrees to purchase the entire output of a specific product or service from the seller. This type of contract is also known as an entire-output contract.

For example, a farmer may enter into an output contract with a grocery store chain to sell all of their crop yield for a specific season. The contract would specify the quantity, quality, and price of the product to be sold.

The benefit of an output contract is that it provides the seller with a guaranteed market for their entire output. This means that the seller can plan their production and sales accordingly, without worrying about finding buyers for their product.

In exchange for this guarantee, the seller agrees to sell their entire output to the buyer, and may not sell to other buyers during the term of the contract. This is considered valid consideration for the contract.

Output contracts may also include a "best efforts" clause, which requires both parties to make their best efforts to fulfill the terms of the contract. In some jurisdictions, such as California, this obligation is implied even if it is not explicitly stated in the contract.

Overall, an output contract provides both the buyer and seller with a level of certainty and security in their business dealings.

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babycat
15:01
@Dkk: what if it’s someone you’ve known for a long time but never dated?
Dkk
15:03
Maybe but things would have to go like perfectly. I could not imagine them going perfectly.
15:04
Sleeping on the first date just isn't my style, idk. I take things painfully slowly and much prefer to befriend and really get to know a girl first before doing any of that
Ok another question, what do u tell the ppl u sleeping with already that ur going on dates
Dkk
15:05
The bigger issue is if I sleep with them will I have the emotional connection to finish cus it is harder for me to finish if I do not know the person.
bigroger100
15:05
Anyways when the fuck are either of the colorados schools releasing their shit. Smh
BulbasaurNoLikeCardio
15:05
@Rightfullytherlauren: If the person is clean or has a good vibe I will do it the first date
15:06
Yeah sorry I can't answer that Lauren, I don't sleep with anyone if I'm not already dating them
Dkk
15:06
@Rightfullytherlauren: This is like a stupid thing that only really hot guys and women have to think about. I have never had to think about this before. No answer.
Dkk
15:07
@bigroger100: No idea. Probably when they released last year unless they were supposed to release already.
BulbasaurNoLikeCardio
15:08
@Rightfullytherlauren: I am apparently a hot guy or just a slut cause I have had this before. If it is a FWB then you gotta follow the rules on that like wrapping your tool and such but if it is a casual fuck/bootie call they do not need to know if you are trying to find love and what you are doing when you are busy
BulbasaurNoLikeCardio
15:09
You just have to be smart and accept your choices, I know some people will believe a casual hook up or FWB is a regular exclusive thing. Communication is key if you are playing it that way but it is very dangerous to have multiple partners at the same time in a non-exclusive way
babycat
15:09
Yeah you should make it clear to them it's not exclusive
BulbasaurNoLikeCardio
15:10
I have been on the receiving/hurt end thinking it was exclusive when I was just her human dildo and it makes you feel bad.
babycat
15:11
Aw poor Bulbasaur
Dkk
15:11
In all of these situations described, the point of failure happened way before the emotional reality set in.
babycat
15:11
I'm like extremely monogamous at heart
babycat
15:12
I'm never dating or fucking more than one person at a time
babycat
15:12
But one time this guy I'd been dating for a little bit had a tinder notification come up on his phone and I flipped my shit lol
1a2b3c4d26z
15:12
Yea but isn't that just cheating
1a2b3c4d26z
15:12
If you're already dating
babycat
15:13
I mean like casual dating without a label
BulbasaurNoLikeCardio
15:13
My wife and I date girls together but we don't fuck unless it is going to be exclusive but having hot chick friends you can flirt with is great.
babycat
15:13
I also have hot chick friends I can flirt with
BulbasaurNoLikeCardio
15:13
@babycat: Tinder spams marketing messages so dude probably forgot to delete but either way he didn't deserve you so fuck him
babycat
15:14
That was actually it but I was mean to him for like two days about it anyways
Dkk
15:14
Yeah, I am going to bed. I am starting to feel tired. Goodnight.
15:14
Goodnight DK
Dkk
15:14
Thank you. Goodnight to you too.
babycat
15:14
don't let the bedbugs bite
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