#arm's_length_principle
Arm's length principle
Parties to a transaction are on an equal footing
The arm's length principle (ALP) is the condition or the fact that the parties of a transaction are independent and on an equal footing. Such a transaction is known as an "arm's-length transaction". It is used specifically in contract law to arrange an agreement that will stand up to legal scrutiny, even though the parties may have shared interests or are too closely related to be seen as completely independent.
Mon 25th
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