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When the parties contract with provisions that specify a condition subsequent, the occurence of the condition cuts off liability for performance on and as to its basis. An example would be a requirement in an insurance contract wherein the insured has a limited time in which to file a claim, and thereafter the insurer need not perform, as the condition subsequent has been satisfied, even if the insured files the claim thereafter.
What else can I help you with?
Can you provide an example of an escape clause in a contract?
An example of an escape clause in a contract could be a provision that allows one party to terminate the agreement if certain conditions are not met within a specified timeframe.
What does no escape mean in a real estate deal?
"No escape" is related to the contract. An escape clause is clause, condition or other provision in a contract that allows you to back out of the transaction if you find something about the property, the financing or some other factor that makes the deal undesirable. You may have to pay a fee or lose your deposit.No escape means that you cannot back out of the transaction once you have signed the contract. You need to be absolutely certain that you will go through with the real estate purchase no matter what if you enter into a contract with a no escape clause.
Breach of contract employer not providing hours in contract?
Many contracts have an escape clause that covers the condition that sufficient work is not available. These cases are difficult to win because the courts tend to favor the employer. They can plead extenuating circumstances such as a bad economy and be relieved of their obligation.
How do you back out of a singed contract?
Put in an escape clause. If the other party proposes a counter-offer, then you can void the original contract.
What types of law come under the provisions of the Contract Clause?
The Contract Clause of the United States Constitution covers contract law. The clause was created to keep states from using "private relief" to allow certain individuals an escape from their financial obligations. The Contract Clause prevents states from enacting laws that impair legal contracts.
When was Escape Clause created?
Escape Clause was created on 1959-11-06.
Is escape noun and verb or both?
Escape is both a verb and a noun. Examples: As a verb: The plan is to escape before the boring lecture. As a noun: A daring prison escape was the headline for the day. It can also be an adjective: Houdini was a famous escape artist. I have an escape clause in my contract.
Is an insurer liable if a contractor he has given a performance bond dies without performing?
The insurer is liable in all cases where the contract to preform the work is enforceable. If the contract (not the bond) has an escape clause for death, then no.
The Santa Claus The Escape Clause is a sequel to what movie?
it is a sequal to santa clause and santa clause 2
What are the release dates for Disney's Really Short Report - 2007 The Santa Clause 3 The Escape Clause?
Disney's Really Short Report - 2007 The Santa Clause 3 The Escape Clause was released on: USA: 7 November 2007
Is it possible for the dealer to back out of a contract once you signed it and drove off the lot with dealer plate?
The dealer should be legally bound by the contract which the two of you entered into , a mutual agreement , unless there is an "escape clause" that the dealer can exercise as an option in the contract ; you would best consult an attorney regarding this matter .
Can a new car dealer cancel an order for a new car after he accepted the order with money down?
Check state and local laws. Also read the contract there may be an escape clause the dealer has exercised.
