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First, where a party to a contract exercises an express right of termination, he or she is sometimes said to have exercised a right to rescind the contract. Secondly, where a party is faced with a repudiation, the party can elect to terminate the contract; this too has often been referred to as an election to rescind. "Rescission" at common law.
Extinguishment occurs in a variety of contracts, such as land contracts (common, copyhold), debts, rents, and right of ways. [1] A right may be extinguished by nullifying that right or, in the case of a debt, discharged by payment in full or through settlement. [2] An extinguishment may be by matter of fact and by matter of law. [1]
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.
“If, for some reason, the buyer’s lender does not appraise the home at a value that would secure financing, the seller can cancel the contract for the buyer’s lack of performance in terms of ...
Knowing how to cancel an insurance policy is important for several reasons. You may, for example, need to change to a new insurer if you move to a new state. Or perhaps you are taking an extended ...
Confirm payment options. With a lapse on your record, the insurance company may want a down payment or allow the policy to be billed to your mortgage company. If the carrier invoices the lender ...
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