What does reasonable discretion mean?

Reasonable Discretion means commercially reasonable judgment exercised in good faith. The burden of establishing lack of good faith or reasonableness shall be on Borrowers.

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Also to know is, how do you define reasonable?

Reasonable

1. Reasonable. Suitable; just; proper; ordinary; fair; usual. The term reasonable is a generic and relative one and applies to that which is appropriate for a particular situation.
2. reasonable. adj., adv.
3. REASONABLE. Conformable or agreeable to reason; just; rational.

One may also ask, what does absolute discretion mean? absolute discretion means, in reference to a Party, in the absolute and unqualified discretion of such Party, without any obligation to act reasonably; Sample 2. Based on 2 documents 2. absolute discretion means the right to distribute.

Also asked, what does sole discretion mean?

"Sole discretion" refers to the legal ability to be the only person who has deciding power over a given situation. For example, if a relative dies, but grants one child "sole discretion" over the will, only that child has legal rights to act on behalf of the relative.

What does reasonable mean in a contract?

It introduces an objective standard in the contract. The term reasonable places a limit on discretionary power or the effect of overly strict obligations. Where it limits the exercise of discretionary power, it requires that a party is able to explain its performance (or failure to perform as expected).

Related Question Answers

What is a sentence for reasonable?

reasonable Sentence Examples. It was a reasonable concern. 264. 129. He was a reasonable man and she had never known him to shirk his responsibilities.

What is the root word of reasonable?

reasonable (adj.) c. 1300, "having sound judgment, sane, rational," from Old French raisonable, from Latin rationabilis, from ratio "reckoning, understanding, motive, cause," from ratus, past participle of reri "to reckon, think," from PIE root *re- "to reason, count."

What type of word is reasonable?

1 intelligent, judicious, wise, equitable. Reasonable, rational refer to the faculty of reasoning. It can also mean sane or sensible: She was no longer rational; a rational plan. Reasonable most often means sensible: A reasonable supposition is one which appeals to our common sense.

What is the definition of reasonable time?

It is the time that the law considers reasonable under the specific contract for undertaking whatever is required and which is deemed necessary – and can be undertaken conveniently – as soon as circumstances permit.

What is the reasonableness standard?

The reasonableness standard is a test which asks whether the decisions made were legitimate and designed to remedy a certain issue under the circumstances at the time. Courts using this standard look at both the ultimate decision, and the process by which a party went about making that decision.

What are the key elements that define reasonable force?

The amount of force necessary to protect oneself or one's property. Reasonable force is a term associated with defending one's person or property from a violent attack, theft, or other type of unlawful aggression. It may be used as a defense in a criminal trial or to defend oneself in a suit alleging tortious conduct.

What do you mean by reasonable opportunity?

reasonable opportunity means that all parties must be provided with notice that a Rule 12(b)(6) Sample 2.

What does it mean to be con?

con. A con, or confidence game, is a swindle — when you take advantage of someone's trust. If you con someone out of their life savings, you might wind up a con — as in convict. An ex-con is someone who spent time in jail as a convict, and a con artist is someone who scams people out of their money.

What does it mean to use your discretion?

the power or right to decide or act according to one's own judgment; freedom of judgment or choice: It is entirely within my discretion whether I will go or stay.

What does unfettered discretion mean?

The ordinary meaning of the term 'unfettered' is 'fully unrestricted', with no constraints. However, courts equally have a discretion to Access to the complete content on Oxford Reference requires a subscription or purchase.

What is an example of discretion?

noun. Discretion is defined as the right of someone to make choices or the quality of someone who is careful about what they do or say. An example of discretion is the ability of a juror to determine a verdict. An example of discretion is not talking about politics at family dinners.

What does absolute mean in a will?

absolute: Free from conditions, limitations or qualifications, not dependent, or modified or affected by circumstances; that is, without any condition or restrictive provisions. absolute.

How should trustees exercise their discretion?

1. Trustees must exercise their discretion with good faith and give real and genuine consideration;
2. Trustees must exercise their powers in accordance with the purpose for which the power was conferred;
3. Trustees must not act in conflict of their duty.

What is the test of reasonableness?

A reasonableness test is an auditing procedure that examines the validity of accounting information. For example, an auditor could compare a reported ending inventory balance to the amount of storage space in a company's warehouse, to see if the reported amount of inventory could fit in there.

What is a reasonable estimation?

Reasonable estimate. A reasonable estimate does not exceed the original numbers from a problem.

What is a reasonable cost?

Reasonable cost is a price that is consistent with what a reasonable person would pay in the same or similar circumstances for the same business or for the same or similar item.

What is the legal reasonability or obligation?

The definition of obligation in law refers to the responsibility to follow through on actions agreed upon in a contract, promise, law, oath, or vow. The definition of obligation in law refers to the responsibility to follow through on actions agreed upon in a contract, promise, law, oath, or vow.

What is a good faith effort?

Good Faith Effort Law and Legal Definition. "Good faith effort" is an implied contractual term and it is defined as "what a reasonable person would determine is a diligent and honest effort under the same set of facts or circumstances." Troutt v.

What is the definition of reasonable grounds?

Reasonable grounds means information that establishes sufficient articulable facts that give a trained law enforcement or criminal investigative agency officer, investigator, or employee a reasonable basis to believe that a definable criminal activity or enterprise is, has been, or may be committed.