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Courts have generally held that the notice be given within a "reasonable time" but not necessarily simultaneous with termination of the lease. For example, in North Bay T.V. and Audio Ltd. v Nova Electronics Ltd. Et Al., [9] a statement of claim about six weeks after the tenant terminated the lease was held to be within "reasonable time".
An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
For lease contracts, without the inclusion of an acceleration clause in a lease, a landlord's right to sue for damages for breach of a lease may accrue on the date the termination date of the lease. With an acceleration clause a landlord may be able to sue for damages when a breach of the lease agreement occurs. [5]
Accord and satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.
If such reasonable assurances are not given, it will constitute anticipatory repudiation, for which the performing party has various remedies, including termination. However, anticipatory repudiation only applies to a bilateral executory contract with non-performed duties on both sides. Additionally, the repudiation must be unequivocal.
The example of permitting assignment under specified circumstances is: An example: The hulls and freight clauses contain a similar "assignment clause" which states that no assignment is binding unless a dated notice of assignment, signed by the assured is endorsed on the policy and the policy is produced before payment of claim or return of ...
MEXICO CITY (Reuters) -Mexican President Claudia Sheinbaum on Saturday ordered retaliatory tariffs in response to the U.S. decision to slap 25% tariffs on all goods coming from Mexico, as a trade ...
A housing lease may specify whether the renter is living alone, with family, children, roommate, visitors. A rental may delineate the rights and obligations of each of these. For example, a "sub-let" to a stranger might not be permitted without permission of the landlord. This also applies to whether or not pets may be kept by the renter.