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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]
A barrister by profession, from 1951 Povey was a legal adviser to the NFBTE (later the Construction Confederation) and at the same time began to assist the Joint Secretaries of the JCT, later succeeding Howard Close [31] as NFBTE Joint Secretary before being appointed the first Secretary-General of the restructured Joint Contracts Tribunal ...
In finance, law, and insurance, rescission is the termination of a contract from the beginning (as if it never existed), rendering it void ab initio. In 2009, one judge ruled that borrowers who refinanced into an adjustable-rate mortgage could force a bank to rescind mortgage loans if it acted similarly inappropriately. [ 9 ]
To capitalize on widespread public dislike on the proposed GST, Chrétien ordered the Liberal-dominated Senate to defeat the GST bill in late September 1990, leading Mulroney on September 27, 1990, to appoint eight PC senators to give the Tories a majority using a never-before-used section of the Constitution Act, the so-called "Deadlock Clause ...
Termination fees are common to service industries such as cellular telephone service, subscription television, and so on, where they are often known as early termination fees. For instance, a customer who purchases cellular phone service might sign a two-year contract, which might stipulate a $ 350 fee if the customer breaks the contract.
It can also be a time period after a payment due date within which the fee can be paid without penalty. For example, late charges may not be incurred for payments due on the first of the month if they are paid on or before the tenth of the month. [5] In the United States, almost all credit cards offer a grace period on purchase transactions.
It was constituted as Customs, Excise and Gold (Control) Appellate Tribunal (CEGAT) under section 129 of Customs Act, 1962, [1] as amended by section 50 and the Fifth Schedule of Finance (No. 2) Act, 1980. [2] These amendments became effective from 11 October 1982 [3] and the Tribunal was also constituted on the same date. [4]
An example of cause would be an employee's behavior which constitutes a fundamental breach of the terms of the employment contract. Where cause exists, the employer can dismiss the employee without providing any notice. If no cause exists yet the employer dismisses without providing lawful notice, then the dismissal is a wrongful dismissal.