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The covenant may be negative or affirmative. A negative covenant is one in which property owners are unable to perform a specific activity, such as block a scenic view. An affirmative covenant is one in which property owners must actively perform a specific activity, such as keeping the lawn tidy or paying homeowner's association dues for the ...
The legal provision in the loan agreement providing for the loan to be "called" is the "acceleration clause": once the buyer defaults, all future payments due under the loan are "accelerated" and deemed to be due and payable immediately. [1] Covenants may also be waived, either temporarily or permanently, usually at the sole discretion of the ...
Technical default occurs when an affirmative or a negative covenant is violated. Affirmative covenants are clauses in debt contracts that require firms to maintain certain levels of capital or financial ratios. The most commonly violated restrictions in affirmative covenants are tangible net worth, working capital/short term liquidity, and debt ...
Black student enrollment at Harvard Law took a nosedive after the Supreme Court ruled against race-based admissions last year. The U.S. Supreme Court handed down a major ruling on affirmative ...
Harvard denied engaging in discrimination and said its admissions philosophy of considering race as one of many factors in its admissions policy complies with the law. The school also said that it receives more than 40,000 applications, that a large majority of applicants are academically qualified, and as a result, it must consider more than ...
Lord Templeman held that the covenant could not be enforced because the covenant was positive. His judgment said the following. [1]Equity cannot compel an owner to comply with a positive covenant entered into by his predecessors without flatly contradicting the common law rule that a person cannot be made liable upon a contract unless he was a party to it.
Grutter v. Bollinger, 539 U.S. 306 (2003), was a landmark case of the Supreme Court of the United States concerning affirmative action in student admissions.The Court held that a student admissions process that favors "underrepresented minority groups" did not violate the Fourteenth Amendment's Equal Protection Clause so long as it took into account other factors evaluated on an individual ...
The notion of positive and negative rights may also be applied to liberty rights. To take an example involving two parties in a court of law: Adrian has a negative right to x against Clay, if and only if Clay is prohibited to act upon Adrian in some way regarding x.