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Take or pay contract

• A contract that obligates the purchaser to take any product that is offered to it (and pay the cash purchase price) or pay a specified amount if it refuses to take the product.

 
 Embedded terms in definition
 Cash
Contract
Purchase
Take
 
 Related Terms
 

<< Take a position Take out >>

Helping Disabled or Elderly Relatives With Money Management, Even From Far Away: Millions of people serve as financial caregivers for ill or elderly spouses, parents, children or other loved ones. They perform services that include paying bills, handling deposits and investments, filing insurance claims and preparing taxes. Because this role can be costly and physically and emotionally exhausting, especially for a caregiver who lives far away or has the usual time-demands, FDIC Consumer News offers some suggestions. More...

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