What does fair and reasonable mean?

What does fair and reasonable mean?

A fair and reasonable price is the price point for a good or service that is fair to both parties involved in the transaction. This amount is based upon the agreed-upon conditions, promised quality and timeliness of contract performance.

What is the legal definition of fair?

fair adj. 1 : characterized by honesty and justice. : free from self-interest, deception, injustice, or favoritism [a and impartial tribunal] 2 : reasonable as a basis for exchange [a wage] [a valuation] 3 : consistent with merit or importance [ and just compensation for the injuries]

What does reasonable mean in UK law?

in law, just, rational, appropriate, ordinary or usual in the circumstances. It may refer to care, cause, compensation, doubt (in a criminal trial), and a host of other actions or activities.

What is a fair person called?

adjective [oft ADJ n] A fair-minded person always tries to be fair and reasonable, and always listens to other people's opinions. She is one of the most fair-minded people I know. Synonyms: impartial, just, fair, reasonable More Synonyms of fair-minded.

What is reasonable person standard in law?

A legal standard applied to defendants in negligence cases to ascertain their liability. All members of the community owe a duty to act as a reasonable person in undertaking or avoiding actions with the risk to harm others. ... However, not everyone is expected to conform to the general reasonable person standard.

Whats the difference between fair and equitable?

Fair treatment means people receive non-discriminatory attitudes regardless of their personal conditions. Equitable treatment means people receive the same opportunity to reach a specific objective while specific considerations are in place.

What is the legal definition of unreasonable?

Legal Definition of unreasonable : not reasonable : beyond what can be accepted: as. a : clearly inappropriate, excessive, or harmful in degree or kind an unreasonable delay an unreasonable restraint of trade.

What is a fair minded person?

: marked by impartiality and honesty : just, unprejudiced.

How do you describe a fair person?

If you describe someone or something as fair, you mean that they are average in standard or quality, neither very good nor very bad. ... Someone who is fair, or who has fair hair, has light-colored hair.

What is the reasonable man theory?

Reasonable man theory refers to a test whereby a hypothetical person is used as a legal standard, especially to determine if someone acted with negligence.

Does equal mean fair?

Equal is defined as the same or exactly alike. [Equality] Fair is defined as just or appropriate in the circumstances.