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A covenant is an agreement like a contract. A covenantor makes a promise to a covenantee to perform an action (affirmative covenant in the United States or positive covenant in England and Wales) or to refrain from an action (negative covenant). In real property law, the term real covenants means that conditions are tied to the ownership or use ...
The Paul Armstrong Company et al, 263 NY 79 (1933) "In every contract there is an implied covenant that neither party shall do anything, which will have the effect of destroying or injuring the right of the other party, to receive the fruits of the contract, which means that in every contract there exists an implied covenant of good faith and ...
In United States government contracting, a provision or solicitation provision is a written term or condition used in a solicitation. A solicitation provision applies only before a contract is awarded to a vendor. [1] This distinguishes provisions from clauses, which apply after contracts are awarded (and possibly before).
Conditions are major provision terms that go to the very root of a contract breach of which means there has been substantial failure to perform a basic element in the agreement. Breach of a condition will entitle the innocent party to terminate the contract. [3] A warranty [4] is less imperative than a condition, so the contract will survive a ...
In contract law, the implied covenant of good faith and fair dealing is a general presumption that the parties to a contract will deal with each other honestly, fairly, and in good faith, so as to not destroy the right of the other party or parties to receive the benefits of the contract. It is implied in a number of contract types in order to ...
In most jurisdictions, courts routinely "blue pencil" or reform covenants that are deemed not reasonable. The blue pencil doctrine gives courts the authority to strike unreasonable clauses from a non-compete agreement, leaving the rest to be enforced, or actually to modify the agreement to reflect the terms that the parties originally could have and probably should have agreed to. [3]
If a contract contains a provision benefitting a third-party beneficiary, the beneficiary may compel its performance provided that they communicated their assent to the promissor before any attempt by the latter to revoke or alter the benefit pursuant to the contract. [224] Except where a provision of law requires that a contract take a ...
In contract law, a non-compete clause (often NCC), restrictive covenant, or covenant not to compete (CNC), is a clause under which one party (usually an employee) agrees not to enter into or start a similar profession or trade in competition against another party (usually the employer).