Day: March 5, 2022

Contract negotiation This is an action of two (or more) parties consulting about a possible arrangement of partnership. Their goal is to make an agreement that will be advantageous for all parties involved. Talks may go on between the parties Read More …

Very rarely, a contract will provide that termination of the contract will cancel the contract as if it had never been entered into. However, for most contracts, termination results in all parties being relieved of performing future obligations under the Read More …

Definitions 1. General: Failure to do something required by an agreement, in the performance of a duty, or under a law. 2. Borrowing: Failure to meet the terms of a loan agreement. Its two types are: Fiscal: – Failure to Read More …

Penalty clause is a contractual provision that provides for payment of an amount as forfeiture on breach of the contractual provisions. Usually the amount will be unrelated to the actual harm suffered. These clauses are added so as to prevent Read More …

A contract is said to be discharged (or terminated) when the parties to it are freed from their mutual obligations. In other words, when the rights and obligations arising out of a contract are distinguished, the contract is said to Read More …

Money laundering is the process of creating the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, originated from a legitimate source. it can also be defined as the process of making Read More …