A deal refers to the act of buying and selling items for profit. It can also denote a mutually beneficial agreement. Additionally, it can signify a large quantity, such as a substantial amount of money. To deal can also encompass the actions of distributing or selling something, engaging in business transactions with someone, or collaborating covertly with someone.
Definition:
Deal, noun. The act of buying and selling; the exchange of goods or services for profit. For instance, “He earned a substantial amount of money by selling his company.” An agreement made for mutual benefit. For example, “The witness agreed to testify in exchange for immunity, as part of the prosecutor’s deal.” An unspecified quantity. For example, “She dedicated a significant amount of time to studying for her exams.”
Deal, verb. To distribute something. For example, “He was apprehended for distributing drugs on the street corner.” To conduct business with a person or entity. For example, “I always do business with the same car dealership when purchasing a new car.” To conspire with a person or entity. For example, “The two companies were caught conspiring for the account.”
These examples demonstrate the various ways in which the word “deal” can be utilised. The initial example under “deal, noun” illustrates its usage in the context of a financial transaction. The second example showcases its application in an agreement between two parties. The third example exemplifies its reference to an unspecified amount of something. Under “deal, verb,” the first example portrays its association with the illegal distribution of drugs. The second example demonstrates its connection to conducting business with a specific individual or entity. The third example highlights its involvement in conspiring with someone or something for a specific purpose.
A deal refers to an agreement or contract between two or more parties that outlines the terms and conditions of a transaction or arrangement.
A deal should include the names and contact information of the parties involved, a clear description of the goods or services being exchanged, the price or consideration for the deal, any warranties or guarantees, and the agreed-upon terms and conditions.
While verbal agreements can be legally binding in certain situations, it is highly recommended to have a written deal to avoid any misunderstandings or disputes. A written deal provides clear evidence of the agreed-upon terms and can be enforced more easily in court if necessary.
Yes, a deal can be canceled or terminated if both parties mutually agree to do so or if certain conditions specified in the deal are met. However, it is important to review the terms of the deal and any cancellation or termination clauses to understand the consequences and obligations involved.
If one party fails to fulfill their obligations as outlined in the deal, it may be considered a breach of contract. The non-breaching party may be entitled to seek remedies such as damages, specific performance, or termination of the deal, depending on the circumstances and the terms of the agreement.
Yes, a deal can be modified or amended if both parties agree to the changes and the modifications are properly documented in writing. It is important to ensure that any modifications are clear, agreed upon, and signed by all parties involved to avoid future disputes.
If a party wants to back out of a deal, it depends on the specific circumstances and the terms of the agreement. If there are cancellation or termination clauses in the deal, they should be followed. However, unilaterally backing out of a deal without proper justification may result in legal consequences, such as being held liable for damages.
No, a deal made under duress or coercion is generally considered invalid and unenforceable. If a party can prove that they were forced or threatened into entering the deal, they may have grounds to have the agreement declared void.
In many cases, a deal can be assigned or transferred to another party if the original agreement allows for it or if all parties involved agree to the transfer. However, it is important to review the terms of the deal and any assignment clauses to understand the requirements and limitations.
If you have concerns or disputes regarding a deal, it is advisable to consult with a qualified attorney who specializes in contract law. They can provide guidance, review the terms of the deal, and help you understand your rights and options for resolving the issue.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/deal/
- Modern Language Association (MLA):Deal. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/deal/.
- Chicago Manual of Style (CMS):Deal. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/deal/ (accessed: May 09 2024).
- American Psychological Association (APA):Deal. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/deal/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts