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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 ...
First, where a party to a contract exercises an express right of termination, he or she is sometimes said to have exercised a right to rescind the contract. Secondly, where a party is faced with a repudiation, the party can elect to terminate the contract; this too has often been referred to as an election to rescind. "Rescission" at common law.
In Veysoglu v O'Keefe and Goudie, [7] the court held that notice was not necessary because the lease agreement specifically provided that the balance of rent owed for the full term of the lease became due upon repudiation of the lease by the tenant. The court found that the explicit recognition of the right of action negated the need for notice ...
A termination for convenience clause, or "T for C" clause, [1] enables a party to a contract to bring the contract to an end without the need to establish that the other party is in default, for example because the client party's needs have changed, or in order to arrange for another party to complete the contract. [2]
Lease; Lease purchase contract; Legal document assistant; Legal instrument; Legal release; Lessor; Letter of intent; Letter of marque; Letters close; Letters of horning; Letters patent; Letters patent (United Kingdom) Letters rogatory; Lettres de cachet; Liability waiver; Loan note; Love contract
Where a contract or term is voidable, the party entitled to avoid may either conditionally or unconditionally choose to affirm the contract or term as outlined in Article 3.2.9 of the Principles which states that "if the party entitled to avoid the contract expressly or impliedly confirms the contract after the period of time for giving notice ...
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