Michigan Extended Date for Performance

• Category: Contracts - Extensions
• State: Multi-State
• Control #: US-02969BG
• Format: Word; Rich Text

Description

This is basically a modification of the original contract. Modification is written change made to a contract. It may be unilateral in accordance with the changes clause in the contract or bilateral. Modification may introduce or cancel specifications or terms of a contract without effecting the purpose of the contract. Unilateral modifications are changed usually through a modification order and mutually agreed change is made by a supplemental agreement. It is also called contract amendment or modification of a contract. Michigan Extended Date for Performance refers to a legal provision that grants additional time for the completion of certain obligations or tasks beyond their originally stated deadline. This extension is typically granted when there are unforeseen circumstances or events that hinder the parties involved from fulfilling their contractual obligations within the given time frame. This provision serves to protect the parties from penalties or liabilities that may arise due to circumstances beyond their control. In Michigan, there are several types of Extended Date for Performance, namely: 1. Unforeseen circumstances: This type of extension is granted when unexpected events or situations occur, such as natural disasters, emergencies, or government actions, making it impossible or impractical to complete the task within the original timeframe. Examples include delays caused by hurricanes, fires, or widespread disruptions. 2. Force majeure clause: This clause, commonly included in contracts, allows for an extension of performance when circumstances beyond the parties' control occur, rendering the fulfillment of contractual obligations impossible or commercially impracticable. It covers events like war, terrorism, epidemics, or major economic disruptions. 3. Material disruption: This type of extension is granted when a significant disruption in the business or economic environment negatively affects the performance of the contract. This could include sudden changes in market conditions, financial crises, or industry-wide shortages of resources. 4. Government actions: In certain cases, extensions may be provided due to actions taken by government agencies that affect the ability to meet contractual requirements. This could include regulatory changes, licensing delays, or the enactment of new laws that restrict or alter the terms of the agreement. It is important to note that the specific conditions and requirements for obtaining an extended date for performance may vary depending on the nature of the contract and the agreements between the parties involved. It is advisable to consult legal counsel to navigate the intricacies of Michigan's extended date for performance provisions and ensure compliance with the law.

Michigan Extended Date for Performance refers to a legal provision that grants additional time for the completion of certain obligations or tasks beyond their originally stated deadline. This extension is typically granted when there are unforeseen circumstances or events that hinder the parties involved from fulfilling their contractual obligations within the given time frame. This provision serves to protect the parties from penalties or liabilities that may arise due to circumstances beyond their control. In Michigan, there are several types of Extended Date for Performance, namely: 1. Unforeseen circumstances: This type of extension is granted when unexpected events or situations occur, such as natural disasters, emergencies, or government actions, making it impossible or impractical to complete the task within the original timeframe. Examples include delays caused by hurricanes, fires, or widespread disruptions. 2. Force majeure clause: This clause, commonly included in contracts, allows for an extension of performance when circumstances beyond the parties' control occur, rendering the fulfillment of contractual obligations impossible or commercially impracticable. It covers events like war, terrorism, epidemics, or major economic disruptions. 3. Material disruption: This type of extension is granted when a significant disruption in the business or economic environment negatively affects the performance of the contract. This could include sudden changes in market conditions, financial crises, or industry-wide shortages of resources. 4. Government actions: In certain cases, extensions may be provided due to actions taken by government agencies that affect the ability to meet contractual requirements. This could include regulatory changes, licensing delays, or the enactment of new laws that restrict or alter the terms of the agreement. It is important to note that the specific conditions and requirements for obtaining an extended date for performance may vary depending on the nature of the contract and the agreements between the parties involved. It is advisable to consult legal counsel to navigate the intricacies of Michigan's extended date for performance provisions and ensure compliance with the law.