output contract

output contract

A contract in which a seller promises to supply and a buyer to buy all the goods or services that a seller produces during a specified period and at a set price.

• The quantity term is measured by the seller’s output. An output contract assures the seller of a market or outlet for the period of the contract.

— Also termed en-tire-output contract. Cf. requirements contract. [Cases: Sales 71(4). C.J.S. Sales §§ 178–180.]

output contract Relevant Terms

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