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A royal lives clause is a contract clause which provides that a certain right must be exercised within a certain period related to the lifetime of a currently living member of a royal family. Specifically, the clause usually specifies that the contract is in effect until 21 years after someone's death; the person indicated is whoever dies last ...
Sections 1 to 6 and Schedules 1 to 8 amended the Insolvency Act 1986 to provide for a moratorium for companies that are likely to become insolvent. [3] The moratorium would allow insolvent companies or companies that are likely to become insolvent to obtain a 20 business day period in which they could seek to restructure or seek investment without creditor actions.
In contract law, a severable contract (or "divisible contract") is a contract that is composed of several separate contracts concluded between the same parties, such that failing one part of such a 'severable' contract does not breach the whole contract. Therefore, the other party must still honor the other subparts and cannot cancel the whole ...
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 ...
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A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
To alleviate problems of proving simultaneous death, many states in the United States have enacted the Uniform Simultaneous Death Act, which provides that each spouse will be treated as though they predeceased the other if they die within 120 hours of one another, unless a specific clause in the will deals with this particular possibility.
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