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The provision benefits future parties who may take over the contract.

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AnswerBot

6mo ago

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A grandfather clausecould be:1. A clause in some southern States' Constitutions which exempted the descendants of men who where beneficiaries of pre-Civil-War enfranchisement from subsequent suffrage restrictions. A clause such as this in the Oklahoma State Constitution was ruled unconstitutional under Amendment XV to the United States Constitution in Guinn v. United States, 238 U.S. 347, 35 S.Ct. 926 (1915); or2. An exemption provision benefiting persons, entities or transactions to whom a certain status accrued prior to a new law taking effect, who, where subject to the new law of which the exemption provision is a part, would be adversely affected as to the benefit of that status by the overall provisions of the law. Beneficiaries of grandfather clauses are referred to as having been "grandfathered in"; or3. A provision in a government contract granting immunity to the contractor as to changes in applicable federal law that would otherwise have an adverse effect on the contract; or4. A general and inclusive provision in a construction contract imposing responsibility on one party to the contract for foreseen or unforeseen risks.


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A tax trap is a tax law provision that can result from a taxpayer's loss of an otherwise available tax benefit from a transaction.


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A tax trap is a tax law provision that can result from a taxpayer's loss of an otherwise available tax benefit from a transaction.


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A quasi contract is a lawful, voluntary and unilateral acts so as to avoid unjustly enrichment for the benefit of the one at the expense of another.


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The free rider problem hinders the provision of public goods because individuals can benefit from these goods without contributing to their production. This can lead to underfunding and inadequate provision of public goods, as people may choose not to pay for them if they can still enjoy the benefits without cost.


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