onerous contracts

onerous contracts
A contract entered into in which the unavaoidable costs of fulfilling the contract exceed any expected revenues and in which compensation has to be paid to the other party if the terms of the contract are not fulfilled.

Accounting dictionary. 2014.

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  • gratuitous and onerous contracts — Gratuitous contracts are those of which the object is the benefit of the person with whom it is made, without any profit or advantage received or promised as a consideration for it. It is not, however, the less gratuitous if it proceeds either… …   Black's law dictionary

  • gratuitous and onerous contracts — Gratuitous contracts are those of which the object is the benefit of the person with whom it is made, without any profit or advantage received or promised as a consideration for it. It is not, however, the less gratuitous if it proceeds either… …   Black's law dictionary

  • onerous contract — gratuitous and onerous contracts Gratuitous contracts are those of which the object is the benefit of the person with whom it is made, without any profit or advantage received or promised as a consideration for it. It is not, however, the less… …   Black's law dictionary

  • onerous contract — gratuitous and onerous contracts Gratuitous contracts are those of which the object is the benefit of the person with whom it is made, without any profit or advantage received or promised as a consideration for it. It is not, however, the less… …   Black's law dictionary

  • Onerous Contract — A type of contract where the costs involved with fulfilling the terms and conditions of the contract are higher than the amount of economic benefit received. According to the International Accounting Standards (IAS), there are two methods for the …   Investment dictionary

  • gratuitous contract — gratuitous and onerous contracts Gratuitous contracts are those of which the object is the benefit of the person with whom it is made, without any profit or advantage received or promised as a consideration for it. It is not, however, the less… …   Black's law dictionary

  • gratuitous contract — gratuitous and onerous contracts Gratuitous contracts are those of which the object is the benefit of the person with whom it is made, without any profit or advantage received or promised as a consideration for it. It is not, however, the less… …   Black's law dictionary

  • contract — An agreement between two or more persons which creates an obligation to do or not to do a particular thing. As defined in Restatement, Second, Contracts No. 3: A contract is a promise or a set of promises for the breach of which the law gives a… …   Black's law dictionary

  • contract — An agreement between two or more persons which creates an obligation to do or not to do a particular thing. As defined in Restatement, Second, Contracts No. 3: A contract is a promise or a set of promises for the breach of which the law gives a… …   Black's law dictionary

  • Blue Network — NBC Blue Network/ Blue Network Type Radio …   Wikipedia

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