onerous contract
- A contractual agreement that requires all involved parties to fulfill certain obligations or duties in return for the commitments made by the other parties
- During the negotiation phase, the potential investors were hesitant about the onerous contract due to its demanding requirements.
- At the end of the fiscal year, the company had to bear significant losses as a result of an onerous contract.
- To protect their interests, businesses often hire legal counsel to review potential onerous contracts.
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