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What is a positive suspensive condition?
A positive suspensive condition is a specific type of contractual condition that must be fulfilled for a contract to become effective. It represents a future event or action that, when it occurs, activates the contract's obligations. For example, if a contract is contingent upon a buyer securing financing, the contract only takes effect once the buyer successfully obtains that financing. This condition essentially suspends the contract's enforceability until the specified positive event occurs.
What is prevention of performance in a breach of contract and an example please?
If a party enters into an arrangement which can only take effect by the continuance of a certain existing state of circumstances, there is an implied engagement on his part that he shall do nothing of his own motion to put an end to that state of circumstances under which alone the arrangement can become operative." Also where a binding contract is subject to a condition precedent, a term may be implied that a party will not do an act which, if done, would prevent fulfilment of the condition. By Dharmendra Rautray (Barrister)
Difference between condition a warranty?
Condition A condition is a term (oral or written) which goes directly 'to the root of the contract', or is so essential to its very nature that if it is broken the innocent party can treat the contract as discharged. That party will not therefore be bound to do anything further under that contract. Warranty A warranty is e term of the contract which is collateral or subsidiary to the main purpose of the contract. It is therefore not so vital as to affect a discharge of the contract. A breach of warranty only entitles the innocent party to an action for damages; he cannot treat the contract as discharged. Both conditions and warranties are terms in a contract and it is for the court to decide in each contract whether, having regard to the intentions of the parties, a term is a condition or a warranty. The importance lies in the remedy in the event of breach.
What was George Washington most important?
The most important precedent set by Washigton was that you could only be President for two terms. President's after Washington soon followed this precedent and now it has become a law
What was Washington most important precedents?
The most important precedent set by Washigton was that you could only be President for two terms. President's after Washington soon followed this precedent and now it has become a law
How did Harry S Truman become precedent in 1945?
He was Vice President when FDR died and became president.
What happens if you sign a contract with a minor and didn't know?
The minor can void the contract. If they affirm it after they become an adult, it would become valid.
What does a ruling become for future decisions once the supreme court rules on a case?
Once the Supreme Court rules on a case, the ruling becomes binding precedent for future decisions. This means that lower courts are required to follow and apply the same legal principles established in the Supreme Court's ruling when deciding similar cases in the future. The ruling sets a legal standard that must be followed unless it is later overruled or modified by a subsequent Supreme Court decision.
If the terms of a no-compete contract are changed and a new contract is presented does the previous contract become void?
Yes, unless otherwise stated in the new contract
How we can use the word contract as a verb?
Contract meaning become shorter: The heart contracts and blood is expelled into the veins. Contract meaning a legal agreement to do something: We will contract you to deliver the pamphlets Contract meaning to become ill from some disease; He contracted AIDS from a blood transfusion
When does asap become null and void on a contract.?
According to the terms of the particular contract, or, when the contract is amended in writing by both parties.
Who established the precedent that a vice president succeeding to the presidency would become the president and not simply the acting president?
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