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The owner, often referred to as the 'employer' or the 'client', [1] has full authority to decide what type of contract should be used for a specific development to be constructed and to set out the legally-binding terms and conditions in a contractual agreement. [2] A construction contract is an important document as it outlines the scope of ...
A condition precedent is an event or state of affairs that is required before something else will occur. In contract law, a condition precedent is an event which must occur, unless its non-occurrence is excused, before performance under a contract becomes due, i.e., before any contractual duty exists. [1]
A third-party beneficiary, in the law of contracts, is a person who may have the right to sue on a contract, despite not having originally been an active party to the contract. This right, known as a ius quaesitum tertio , [ 1 ] arises when the third party ( tertius or alteri ) is the intended beneficiary of the contract, as opposed to a mere ...
However, an assignment of a contract containing such a clause will be ineffective if the assignee knows of the non-assignment clause, or if the non-assignment clause specifies that "all assignments are void". Two other techniques to prevent the assignment of contracts are rescission clauses or clauses creating a condition subsequent. The former ...
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 ...
Jacob & Youngs, Inc. v. Kent, 230 N.Y. 239 (1921) is an American contract law case of the New York Court of Appeals with a majority opinion by Judge Benjamin N. Cardozo.The case addresses several contract principles including applying the doctrine of substantial performance in preventing forfeiture and determining the appropriate remedy following a partial or defective performance.
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