material agreement
[məˈtɪriəl əˈɡriːmənt]
nounpl: material agreements
acordo material
1. A legally binding contract or understanding concerning physical goods, tangible assets, or substantive terms of a deal
The two companies reached a material agreement on the supply of raw materials for the next five years.
As duas empresas chegaram a um acordo material sobre o fornecimento de matérias-primas pelos próximos cinco anos.
2. An agreement that addresses significant or essential terms, as opposed to minor or procedural matters
The parties failed to reach a material agreement regarding pricing and delivery dates.
As partes falharam em chegar a um acordo material sobre preços e prazos de entrega.
3. In contract law, an agreement whose breach would substantially affect the contract's purpose and value
The failure to deliver was considered a breach of a material agreement clause.
A falha na entrega foi considerada uma violação de uma cláusula de acordo material.
This term is primarily used in legal, commercial, and corporate contexts in both Brazil and the USA. In Brazilian business culture, 'acordo material' emphasizes the substantive aspects of contracts and is critical in negotiations between companies. In American legal practice, 'material agreement' is a precise term distinguishing essential contract terms from procedural or administrative matters, often determining liability in breach cases.
Related Idioms & Phrases
reach a material agreement
material terms of agreement
material breach of agreement
binding and material agreement
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