This form provides a boilerplate contract clause authorizing each party's attorney to give notice on behalf of his or her client.
Travis Texas Notice Provisions - Giving of Notice as an Obligation or as a Condition Precedent
Category:
State:
Multi-State
County:
Travis
Control #:
US-ND1508
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Word;
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How to fill out Notice Provisions - Giving Of Notice As An Obligation Or As A Condition Precedent?
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FAQ
In a contract, a condition precedent is an event that must occur before the parties are obligated to perform. For example, an insurance contract may require the insurer to pay to rebuild the customer's home if it is destroyed by fire during the policy period. The fire is a condition precedent.
A contract provision is a stipulation within a contract, legal document, or a law. A contract provision often requires action by a specific date or within a specified period of time. Contract provisions are intended to protect the interests of one or both parties in a contract.
In general, a condition is a term or requirement stated in a contract. Such a term can be drafted as a condition precedent or condition subsequent, among other things. A condition subsequent is an event or state of affairs that, if it occurs, will terminate one party's obligation to the other.
Notices clauses designate methods to bring notices issued under a contract to the attention of the other parties. They fix a method and means to deliver documents required to be formally served, in compliance with the terms of the contract.
A notice provision is an agreement between parties on how to receive notices about contractual matters, and this clause should be very clear on its requirements. Typically, it will include the following information: How the notice should look. Acceptable methods for sending notices, such as by email, fax, or mail.
What is a condition precedent, and how does it affect a party's duty to perform a contract? A condition is a possible future event, the occurrence or nonoccurrence of which will trigger the performance of a legal obligation or terminate an existing obligation under a contract.
A condition precedent is a condition or an event that must occur before a right, claim, duty, or interests arises. Compare condition subsequent. In a contract, a condition precedent is an event that must occur before the parties are obligated to perform.
Notices clauses designate methods to bring notices issued under a contract to the attention of the other parties. They fix a method and means to deliver documents required to be formally served, in compliance with the terms of the contract.
Condition precedent: an event that must occur (or be waived) before there is a duty to perform that contact on the part of the party in whose favor that condition runs.
A condition precedent exists when a condition must occur before a party's duty to perform arises, whereas a condition subsequent exists when the occurrence of the condition extinguishes a party's duty to perform. occurs when each party's performance is conditioned on the performance of the other.
