Binding Ruling
/ˈbaɪndɪŋ ˈruːlɪŋ/
Definitions
- (n.) A decision issued by an authorized legal or administrative body that must be followed by the parties involved, establishing enforceable rights or obligations.
The tax authority issued a binding ruling clarifying the applicable regulations for the transaction.
Forms
- binding ruling
- binding rulings
Related terms
See also
Commentary
Binding rulings are often used to provide certainty in regulatory or tax matters; drafters should specify the issuing authority and scope of binding effect to avoid ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.