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Simple English definitions for legal terms

renegotiation

Read a random definition: Trademark Cyberpiracy Prevention Act

A quick definition of renegotiation:

Renegotiation: Renegotiation is when two parties come together to discuss and change the terms of an agreement they previously made. This can happen when one party is not satisfied with the original terms or when circumstances have changed. For example, if you agreed to do chores for $10 a week but later realize it's too much work for too little pay, you might ask to renegotiate the terms to $15 a week for fewer chores. In some cases, renegotiation can also happen with government contracts to make sure the contractor is not making too much profit.

A more thorough explanation:

Definition: Renegotiation is the process of negotiating again or on different terms. It can also refer to the reexamination and adjustment of a government contract to eliminate or recover excess profits by the contractor.

Examples:

  • After the initial contract was signed, the two parties decided to renegotiate the terms to better suit their needs.
  • The government decided to initiate a renegotiation of the contract with the construction company to ensure that they were not making excessive profits.

The first example illustrates renegotiation as the act of negotiating again on different terms. The two parties involved in the contract decided that the initial terms were not satisfactory and needed to be changed. The second example illustrates renegotiation as the reexamination and adjustment of a government contract to eliminate or recover excess profits by the contractor. The government wanted to ensure that the construction company was not making more money than they deserved, so they initiated a renegotiation of the contract.

renegotiable-rate mortgage | renovare

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warning my discord pfp is fun lol and also i haven't changed my username since high school because i didn't feel like it 😭
10:18
LMAO yeah you have a fun pfp
BulbasaurNoLikeCardio
10:20
Yes the septum, so they don't feel weird or mess with breathing/running at all even when flipped in? At limit
snow
10:23
its been a quiet morning so far
LSDFan
10:23
i have no hope for today
JumpySubsequentDolphin
10:24
idk about septums, i only have nostril pierced @bulb
triplethread
10:24
snow i think we will prob hear back from kent the week of dec 1st
10:24
Past 10am and ....nothing
JumpySubsequentDolphin
10:24
I think UCLA a wave today no?
babycat
10:24
🚑
What time have UCLA waves been at
Dkk
10:24
It's only 7:24 AM. We on the west coast control the time.
thismanatemyson
10:25
UCLA please save me
triplethread
10:25
snow if i dont get invited for an honors college interview i might freak
Dkk
10:25
11:22:24 AM PST, wave will come.
triplethread
10:26
dkk are u a boy or a girl
Dkk
10:26
Wizard 101 told me I was a boy wizard.
triplethread
10:26
ok
BulbasaurNoLikeCardio
10:26
I am thinking it will be slower/quitter until after thanksgiving
snow
10:27
thread im like 90% sure im getting an R, but ive come to peace that this might be my unreasonable R for the cycle
triplethread
10:27
but snow we have the same stats. you'll be fine. i promise. if im this confident you should be too
Dkk
10:27
Only tiktok I will share cus I stay off that site.
I am sorry if you like it, but TikTok is fucking awful
LSDFan
10:28
tiktok is great
triplethread
10:28
i lub tik tok and reddit and instantgram
Dkk
10:29
Nah, lol I hate it @texas. I remember when it was music.ly too and you used to have music.ly cringe compilations.
babycat
10:29
I do not have tiktok either because it makes my brain unhappy
10:29
how come i didnt get fordham AGAIN
Yeah, shit is awful. I have friends who spend hours a day on it
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