Subject To Meaning In Agreement

Anyone who participates in legal English training or wishes to improve their command of English in law can benefit greatly from reading the keywords and their meanings that we highlight in this series on the language of contracts. In real estate purchase contracts, a clause is used to note a condition of the contract. A sale of real estate may be considered less than the sale of another property. If the sale of the other property does not take place within the agreed time frame, the contract is no longer valid. The sale of a home may also be subject to a clause if the purchase of the house depends on the sale of a property by the buyer to finance the purchase. If the buyer is unable to sell the property, the sale will not be concluded and the contract will be cancelled. If a clause is included in the contract, the seller commits to that buyer for a specified period of time and cannot accept other offers during that period. The term “subject” can be used to introduce a conditional rate. For example, if the word “by” is replaced in the example above in paragraph 3.2, it is said that if a contract is broken, the offending party is entitled to financial compensation to compensate for lost considerations, whether it is money, time or other considerations. Subject to the provisions of this agreement.

The sentence that is subject to the terms of this agreement (or subject to the terms of this agreement) is often superfluous because it is too broad. It is clear that the rights and obligations of the contracting parties must be considered as a whole and not as a one-condition clause by considering the agreement. But the aspects of ownership are disturbing in this regard. This applies in particular to the sale and transfer of a right or commodity in the context of a right or commodity under the law of a Roman or German law jurisdiction (because Germany applies the so-called abstract system for a transfer of ownership): the seller wishes to find that the transfer of the right or the goods (for example. B to section 2.1 of the sales contract) of the correct performance of all other obligations is essential. If the condition does not exist, the buyer`s failure to execute leaves the seller with the goods sold or the sellers and a right to the payment of the purchase price.

Posted in: Uncategorized

© 2021 - All Rights Reserved | Designed by Interlace Communications & goMAaVA

Leading Edge Business Consulting provides businesses with coaching and training to improve and teach emotional intelligence, handle conflict resolution, help with career transitioning and mentorship, improve employee retention and engagement, help with employee prescreening, and provide training seminars to the Allentown and Reading PA areas.

Skip to content