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term:
Fair-Trade Agreement
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fair-trade agreement n
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: an agreement between a producer and a seller that commodities bearing a trademark, label, or trade name belonging to the producer be sold at or above a specified price NOTE: Most fair-trade agreements are illegal.
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.