Binding

Binding and the GATT Policy Negotiations

In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Binding: A formal commitment specifying maximum levels at which a GATT member’s tariffs on a given product will be set. Tariff bindings provide a major element of stability to international trade by limiting large, unpredictable changes in tariff levels, since other GATT members may be entitled tocompensation if a country raises a tariff above the bound rate. Many LDC members of GATT have bound few of their tariffs, however, and others –applying “ceiling bindings” at rates much higher than prevailing tariff levels — retain considerable leeway to change tariffs at will.

Contract, Binding

From the book The Clergyman’s Hand-book of Law, about Contract, Binding (1): Persons forming a religious society may make a contract for the support of its minister by a majority vote.107 When such unincorporated society by a majority vote enters into a contract or compromises a suit, it is binding upon the minority.108

Binding Receipt or Slip

Resources

See Also

• Binder

Resources

Notes and References

1. Charles M. Scanlan, The Clergyman’s Hand-book of Law. The Law of Church and Grave (1909), Benziger Brothers, New York, Cincinnati, Chicago

See Also

• Religion
• Church