20140128

negotiation


 
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TERM OF THE DAY

negotiation

1. General: Bargaining (give and take) process between two or more parties(each with its own aimsneeds, and viewpoints) seeking to discover a commonground and reach an agreement to settle a matter of mutual concern or resolve aconflict. Noun form of the verb negotiate.
2. Banking: Accepting or trading a negotiable instrument.
3. Contracting: Use of any method to award a contract other than sealed bidding.
4. Trading: Process by which a negotiable instrument is transferred from oneparty (transferor) to another (transferee) by endorsement or delivery. The transferee takes the instrument in good faith, for value, and without notice of anydefect in the title of the transferor, and obtains an indefeasible title.
Learn more about this term
Usage Example
After a great deal of negotiation between the homeowner and an interested buyer, the house was sold to the buyer for $30,000 less than the original asking price.
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TRIVIA OF THE DAY
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