reliance


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reliance

n. acting upon another's statement of alleged fact, claim, or promise. In contracts, if someone takes some steps ("changes his position" is the usual legal language) in reliance on the other's statement, claim or promise then the person upon whom the actor relied is entitled to contend there is a contract he/she can enforce. However, the reliance must be reasonable. (See: reasonable reliance)

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References in periodicals archive ?
In another significant new initiative, BP acquired 49 per cent stake in Reliance's petro-retail business.
This is the fifth acquisition since Reliance LLC acquired control of RELI in September 2018 and is in line with management's growth strategy of completing acquisitions in a timely manner.
Late last week, a bench headed by Justice R F Nariman said the NoC would be given to Reliance Communications Ltd (RCom), a Anil Ambani group firm, by the Telecom Department, if Reliance Realty furnishes the corporate guarantee within two days.
The parent company of Reliance Bank, Reliance is headquartered in Des Peres, Missouri - part of the greater St.
The CCP's enquiry found that Reliance Paints was in an agreement with its dealers to maintain the resale price through a price control list.
The CCP's inquiry found that Reliance Paints was in an agreement with its dealers to maintain the resale price through a price control list.
A circular sent by Reliance Paints to its dealers, retailers, and distributors stated that those who would sell the products at prices fixed by the company would get an 8 per cent monthly discount on the total quantity purchased from Reliance Paints.
The Swedish telecoms equipment maker, which signed a seven-year deal in 2014 to operate and manage Reliance Communications' nationwide network, is seeking a total of Rs 11.55 billion ($180 million) from the three companies, the filing said.
Reliance LYF F8 is powered by Qualcomm's Snapdragon 210 processor and sports a 4.5-inch display.
ANIL Ambani- led Reliance Group and Rafale maker Dassault Aviation on Monday announced a joint venture ( JV) that is expected to play a key role in the execution of offset contract worth about Rs 22,000 crore which forms part of the fighter jet deal.
Reliance Industries Limited's (RIL) business portfolio includes multiple projects in the field of petrochemicals.

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