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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 ...
In labor law, a union shop, also known as a post-entry closed shop, is a form of a union security clause. Under this, the employer agrees to either only hire labor union members or to require that any new employees who are not already union members become members within a certain amount of time. [1]
A union security agreement is a contractual agreement, usually part of a union collective bargaining agreement, in which an employer and a trade or labor union agree on the extent to which the union may compel employees to join the union, and/or whether the employer will collect dues, fees, and assessments on behalf of the union.
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 ...
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The agreement referenced the rule against perpetuities, stating that if a perpetual term is deemed invalid, then the agreement "shall continue until twenty-one (21) years after the death of the last survivor of the descendants of King Charles III, king of England, living as of the date of this agreement." [30]
Social Security is the U.S. government’s biggest program; as of June 30, 2024, about 67.9 million people, or one in five Americans, collected Social Security benefits.This year, we’re seeing a ...
The terms of a contract are the essence of a contract, and tell the reader what the contract will do. For instance, the price of a good, the time of its promised delivery and the description of the good will all be terms of the contract.
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