Concession - Definition - Law Dictionary Home Dictionary Definition concession

Definition :

Concession, the common dictionary meaning of the word 'concession' is 'the act of yielding or conceding as to a demand or argument, something conceded; usually implying a demand, claim, or request, 'a thing yielded', 'a grant', Indian Aluminium Co. Ltd. v. Thane Municipal Corpn., 1992 Supp (1) SCC 480: AIR 1992 SC 53 (57). [Maharashtra Municipalities (Octroi) Rules (1968), R. 4(2)]

1. The voluntary yielding to a demand for the sake of a settlement 2. International Law. A contract in which a country transfers some rights to a foreign enterprise, which then engages in an activity (such as mining) contingent on State approval and subject to the terms of the contract, Black's Law Dictionary, 7th Edn.

Is a thing that is conceded, a gesture made in recognition of demand or prevailing standard, a reduction in price for certain category of person, Arun Kumar v. Union of India, 2006 (12) JT 121 [As per Concise Oxford English Dictionary]