RATCHET CLAUSE
\ɹˈat͡ʃɪt klˈɔːz], \ɹˈatʃɪt klˈɔːz], \ɹ_ˈa_tʃ_ɪ_t k_l_ˈɔː_z]\
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1. Contracts: A stipulation where the contract rights of those involved is adjusted according to the formula agreed to as each stage is completed. 2. Utility Bills: A stipulation where the monthly charge is based on the highest measured charge over the preceding year.
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).