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In United States government contracting, a provision or solicitation provision is a written term or condition used in a solicitation. A solicitation provision applies only before a contract is awarded to a vendor. [1] This distinguishes provisions from clauses, which apply after contracts are awarded (and possibly before).
A contract will be formed (assuming the other requirements for a legally binding contract are met) when the parties give objective manifestation of an intent to form the contract. Because offer and acceptance are necessarily intertwined, in California (US), offer and acceptance are analyzed together as subelements of a single element, known ...
The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law. The law governing transactions involving the sale of goods has become highly standardized nationwide through widespread adoption of the Uniform Commercial Code .
A contractual "[a]ny provision forming part of a contract" [1] Each term gives rise to a contractual obligation, breach of which can give rise to litigation. Not all terms are stated expressly and some terms carry less legal gravity as they are peripheral to the objectives of the contract. Condition or Warranty. [2]
Conditions are major provision terms that go to the very root of a contract breach of which means there has been substantial failure to perform a basic element in the agreement. Breach of a condition will entitle the innocent party to terminate the contract. [ 3 ]
An alienation clause is a provision in a mortgage contract requiring the seller to settle any outstanding balance — including any principal and accrued interest — before a property’s title ...
A boilerplate clause is a legal English term that is used in conjunction with contract law. When forming contracts, parties to the contract often use templates or forms with boilerplate clauses (boilerplate language, used as standard language). Such clauses refers to the standardized clauses in contracts, and they are to be found towards the ...
An option contract is a type of contract that protects an offeree from an offeror's ability to revoke their offer to engage in a contract. Under the common law, consideration for the option contract is required as it is still a form of contract, cf. Restatement (Second) of Contracts § 87(1).