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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 ...
Negative covenants may be continuous or incurrence-based. Violations of negative covenants are rare compared to violations of affirmative covenants. With most debt (including corporate debt, mortgages and bank loans) a covenant is included in the debt contract which states that the total amount owed becomes immediately payable on the first ...
In real estate, a restrictive covenant is a rule or condition placed on a property that outlines what homeowners can and cannot do with their land. These covenants are legally binding and often ...
A positive covenant is a kind of agreement relating to land, where the covenant requires positive expenditure by the person bound, in order to fulfil its terms. Unlike a restrictive covenant, a covenant to perform a positive act does not "run with the land" and therefore does not bind the covenantor’s successors in title.
Some philosophers (see criticisms) disagree that the negative–positive rights distinction is useful or valid. Under the theory of positive and negative rights, a negative right is a right not to be subjected to an action of another person or group such as a government, usually occurring in the form of abuse or coercion.
Wrotham Park Estate Co Ltd v Parkside Homes Ltd [1974] 1 WLR 798 (/ ˈ r uː t ə m /) is an English land law and English contract law case, concerning the measure and availability of damages for breach of negative covenant in circumstances where the court has confirmed that a covenant is legally enforceable and refused, as unconscionable, to issue an order for specific performance or an ...
A fixture at any fast food restaurant or backyard barbecue is American cheese. These orange, plastic-wrapped slices are unparalleled in terms of meltability. For many, when it comes to making a ...