Search results
Results from the WOW.Com Content Network
A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...
The Companies Act 2006 is the source of shareholder pre-emption rights in British companies.Under Section 561(1) of the Companies Act 2006 a company must not issue shares to any person unless it has made an offer (on the same or on more favourable terms) to each person who already holds shares in the company in the proportion held by them, and the time limit given to the shareholder to accept ...
A first refusal right must have at least three parties: the owner, the third party or buyer, and the option holder. In general, the owner must make the same offer to the option holder before making the offer to the buyer. The right of first refusal is similar in concept to a call option.
The absence of any additional counter-offer or refusal by the other party is understood as an implied acceptance. In Leicester Circuits Ltd. v. Coates Brothers plc (2002) and GHSP Incorporated v AB Electronic Ltd (2010) the English High Court has found that companies may have not agreed on any terms, and so the 'last document rule' may not apply.
After the bail has been posted, the court must again review the grounds for bail, and must decide either to accept or refuse the bail. [20] When accepting the bail, the court may also require the charged person to stay in the country. [21] The court may decide to rescind the bail if the charged person [22]
The reason for a defaulting party committing an actual breach is generally irrelevant to whether it constitutes a breach, or whether the breach is a repudiation (this is an incident of strict liability for the performance of contractual obligations). However, the reason may be highly relevant to what such breach would lead the reasonable ...
The reason is that once the performing party is informed of the anticipatory breach, a duty is then created for the performing party to mitigate damages as a result of the breach. Another situation where anticipatory repudiation can occur is where a party has reason to believe the other party is not going to perform and requests reasonable ...
The plaintiff rejected the offer. The defendant made a second offer to sell the property to the plaintiff for £1,000. The plaintiff then wrote back and offered to buy the property for £950. The defendant rejected the offer. The plaintiff then tried to accept the second offer. However, the defendant refused to sell.