[This paper is concerned with general equilibrium under a weakened version of Walras' Law. Conditions for uniqueness of equilibrium are derived which include the more standard conditions as a special case and which are at the same time free of some of the weaknesses of received theory.]

It is the purpose of this paper to show first that in a competitive system satisfying a generalized Wairas' law all principal minors of order less than n of the Jacobian determinant of the system of excess supply functions will ordinarily change sign somewhere on the domain of all positive prices whether demand is bounded or not. Conditions for uniqueness of equilibrium are proposed for the case of bounded demand which allow minors of the Jacobian to change signs. Unbounded demand was treated in Part I. Existence of equilibrium is proved under a generalized Walras law.