Concession
/kənˈsɛʃən/
Definitions
- (n.) The granting or yielding of a right, privilege, or property by one party to another, often by a government or authority.
The city granted a concession to the company to operate the toll bridge.
- (n.) A compromise or acknowledgment made during negotiations, often to resolve a dispute.
After lengthy talks, both sides made concessions to reach an agreement.
Forms
- concessions
Related terms
See also
Commentary
In legal drafting, clearly specifying the scope and duration of a concession is crucial to avoid ambiguity or disputes.
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.