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The Bullet Point: Under Ohio law, bank set-off is an extrajudicial self-help remedy that allows a bank to ?apply general deposits of a depositor against a depositor's matured debt.? Stated differently, set-off allows a bank to use funds held in a customer's general bank account to satisfy a matured debt owed by the ...
There are generally no legal restrictions on how either the employer or the employee communicates that termination. As a practical matter, an employer will generally need to let you know that you've been terminated. But, there's technically no notice of termination requirement at all.
"Mutual cancellation clauses simply provide that either party may cancel upon the same terms and conditions and recover whatever the fee might be for cancellation. Avoid the term 'penalty' because only courts can impose a penalty.
So long as the other party agrees that it's not working and also would like to end the contract, you can do so through a mutual rescission agreement. The effect of the new rescission contract is to place the parties back where they were before the deal was ever reached.
Mutual Agreement means a consensus reached between two distinct parties without any form of coercion involved. Seen in 12 SEC filings. Mutual Agreement means a formal decision-making process agreed upon by all involved parties.
Termination of contract by mutual consent takes place when a contract is no longer being followed, if the contract can no longer be performed, or the parties involved ceased operating the business. When these situations occur, the parties can formally terminate the agreement in writing.
Section 3929.25 | Extent of liability under policy. A person, company, or association insuring any building or structure against loss or damage by fire or lightning shall have such building or structure examined by his or its agent, and a full description thereof made, and its insurable value fixed, by such agent.
A mutual rescission and release agreement annuls the contract and releases both parties from its obligations, freeing them both up to continue business as usual without the broken contract hanging over their them.