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A buyout clause or release clause refers to a clause in a contract that imposes an obligation on another organisation wishing to acquire the services of the employee under contract to pay the (usually substantial) fee of the clause to the organisation which issued the contract and currently employs the employee.
A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...
A private transfer fee covenant [1] is a legal instrument that is filed in the real property records, which imposes an assessment payable in connection with a series of future transfers of title to certain real property.
Florida coach Billy Napier has come under scrutiny following a 9-9 start to his Gators tenure. What would the university owe him if it fired him?
An alienation clause is different from an acceleration clause in that the latter typically has to do with non-payment and foreclosure instead of a sale or transfer. An alienation clause is common ...
An assignment does not necessarily have to be made in writing; however, the assignment agreement must show an intent to transfer rights. The effect of a valid assignment is to extinguish privity (in other words, contractual relationship, including right to sue) between the assignor and the third-party obligor and create privity between the obligor and the assignee.
Mortgage assumption is the conveyance of the terms and balance of an existing mortgage to the purchaser of a financed property, commonly requiring that the assuming party is qualified under lender or guarantor guidelines. [1]
Meet-or-release contracts are contracts that include "meet or release" competition clauses. It is where a company agrees with a [customer] to sell a product at a certain given price. If, by any chance the customer finds a cheaper purchase the company must place their product at an equal or lesser value.