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Clauses Relating to Termination and Liquidation of Venture

Kings New York Clauses Relating to Termination and Liquidation of Venture

Name: Kings New York Clauses Relating to Termination and Liquidation of Venture
Brand: US Legal Forms
Rating: 4.59 (307 reviews)

Category:

Partnerships - Drafting Joint Venture Agreements

State:

Multi-State

County:

Kings

Control #:

US-P0615-3AM

Format:

Instant download

Description

This form is a model adaptable for use in partnership matters. Adapt the form to your specific needs and fill in the information. Don't reinvent the wheel, save time and money.

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FAQ

There are generally two types of termination clauses: (1) Termination for Cause (also known as Termination for Default), and. (2) Termination for Convenience.

Termination clauses, also sometimes called severance clauses, are written into employment contracts. The clause provides a pre-set agreement on what will happen when the employee is terminated in terms of how much notice they get and/or what sort of payment they will receive.

Termination of contract for breach. Termination of contract by performance. Termination of contract by agreement. Termination of contract by frustration or force majeure.

Do limitation of liability clauses survive termination? The general rule is that the limitation of liability clause does not survive the termination of the contract unless it is expressly intended by the parties.

Under the Indian Contract Act 1872, a contract can be terminated by the parties involved by giving legitimate reasons like frustration, repudiatory breach, termination by prior agreement, rescission, or on completion. Such termination may occur by the mutual consent of the parties or by law.

Termination of the entity occurs when the entity ceases to legally exist. The phrase winding up of the affairs generally means the payment of all debts, liabilities, and obligations of the entity, and the liquidation and/or distribution of any remaining assets of the entity to the owners of the entity.

Examples of a termination clause Either party will have the right to terminate the contract by giving written notice to the other party at least 3 months before the end of the initial period of the contract or at least 30 days at any point after the end of the initial period.

Since a party might not become aware of these claims until after the contract termination, those indemnification provisions should survive termination. That way, a party faced with a claim months after contract termination still can pursue indemnification from the other party.

Other clauses commonly recognised as surviving termination of a contract include limitation of liability clauses, arbitration clauses and (potentially) indemnity clauses.

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Termination, orderly winding up etc)?. Explanation that this is a provision – relating to advice on termination of the joint contract.

Kings New York Clauses Relating to Termination and Liquidation of Venture

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FAQ

What are the types of termination clauses in contracts?

What are termination clauses?

What are the four ways to terminate the contract?

Do limitation of liability clauses survive termination?

What are the methods of termination?

What is the difference between termination and liquidation?

What is an example of termination clause in a contract?

Does indemnification clause survive termination?

What clauses survive contract termination?

Interesting Questions

What does the King's Clause relating to termination mean in plain English?

Can you explain the King's Clause regarding liquidation of Venture604879?

Are there any specific conditions mentioned in the King's Clause that lead to termination of the venture?

How does the King's Clause define the termination process for Venture604879?

What happens to the assets or funds of Venture604879 during liquidation?

Are there any limitations on termination or liquidation mentioned in the King's Clause?

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