Freedom of contract is the ability of parties to bargain and create the terms of their agreement as they desire without outside interference from the government. It is the opposite of government regulation.
In Lochner v....
commercial law
frustration of purpose
“Frustration of purpose” is a common law doctrine. Under contract law, an excuse can be used by a buyer for non-performance of contractual duties when a later and unforeseen event impedes the buyer's purpose for entering into the contract,...
FTC
The Federal Trade Commission (FTC) is an independent federal agency created in 1914 by the FTC Act which enforces many of the nation's consumer protection and anti-monopoly laws. It is composed of five Commissioners appointed by the President...
FTC franchise rule
The Federal Trade Commission (FTC) Franchise Rule is a disclosure rule that requires a franchisor offering or selling a franchise located in the United States of America to provide the prospective franchisee with the relevant information...
full disclosure
As a general rule in a business transaction, for example, in a real estate transaction, full disclosure refers to the obligation which requires both parties to disclose the whole truth regarding any significant aspect of a...
fungible things
Fungible things are items that can be easily replaced with another item that is practically the same, such as wood or paper currency. Often, whether or not an item is fungible will impact how damages will be calculated for...
garageman's lien
A garageman’s lien is a security interest that may be acquired in property by someone who spends material or labor working on that property. A garageman’s lien usually stays in effect until the lien holder gets paid for services provided. The...
General Agreement on Tariffs and Trade (GATT)
The General Agreement on Tariffs and Trade (GATT) is a legal agreement first signed by 23 countries on October 30, 1947 in Geneva, Switzerland. The GATT aimed “substantial reduction of tariffs and other trade barriers and the...
generic
Generic, in trademark law, refers to the status of a word or symbol commonly used to describe an entire type of product or service rather than to distinguish one product or service from another. An example is "raisin bran," used by several...
genericide
Genericide refers to the gradual process of a trademarked term becoming generic through use by the common individual. When a term becomes generic, the term cannot receive a trademark nor can current trademarks be enforced. This process can be...