Search results
Results from the WOW.Com Content Network
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 notion of positive and negative rights may also be applied to liberty rights. To take an example involving two parties in a court of law: Adrian has a negative right to x against Clay, if and only if Clay is prohibited to act upon Adrian in some way regarding x.
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 ...
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.
In U.S. law, the legal concept of implied covenant of good faith and fair dealing arose in the mid-19th century because contemporary legal interpretations of “the express contract language, interpreted strictly, appeared to grant unbridled discretion to one of the parties”. [1] In 1933, in the case of Kirke La Shelle Company v.
In this type of privity, the covenants may be positive or negative and, unless very inequitable, are generally held to be binding. After the case, instead of the first narrow privity of estate, any restrictive covenant chiefly needed to satisfy four lesser requirements to bind the successors in title:
"I [thought to myself], ‘Oh, no, this is not going to happen today,’ ” Linda Rosa recalled of the incident
An equitable servitude is a term used in the law of real property to describe a nonpossessory interest in land that operates much like a covenant running with the land. [1] In England and Wales the term is defunct and in Scotland it has very long been a sub-type of the Scottish legal version of servitudes, which are what English law calls easements.