Contract Termination Without Cause In Fulton

State:
Multi-State
County:
Fulton
Control #:
US-00048DR
Format:
Word; 
Rich Text
Instant download

Description

In the context of real property law, a listing agreement governs the terms of the sale of real property by a third party real estate agency or broker. A listing contract may cover issues, among others, such as the price and terms of sale, broker's commission, agency duties of a listing agent, whether or not the property will be listed with the local MLS (multiple listing service), lockbox use, and resolution of disputes.


There are at least ten ways that a listing agreement may be terminated.


" When a real estate broker successfully sells a property for their client the listing agreement is complete.

" Listing agreements are typically inclusive of a definite time frame. When this period of time is reached, the listing agreement is terminated. Automatic extensions are illegal in many states, and are highly discouraged.

" If a broker does nothing to market the property, the owner of the property may end the listing due to the brokers abandonment of the property.

" Sellers can revoke the listing agreement, however there may be damages to the broker for which the seller can be held liable.

" Brokers can renounce the listing agreement, however they may be held for damages to the seller.

" Death, insanity, or bankruptcy of either the broker or the seller will often terminate the listing.

" Destruction of the property terminates the agreement because the agreement cannot be performed.

" The listing agreement can be terminated through a mutual consent between the broker and the seller.

" If the use of the property changes significantly, the listing agreement can be cancelled.

" In the real estate market, transfer of title by operation of law can terminate the listing agreement.

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FAQ

In Alberta, termination “without cause” generally refers to situations where an employee is let go due to reasons unrelated to misconduct, such as business restructuring or downsizing. On the other hand, termination “for cause” occurs when an employee is dismissed due to serious misconduct such as theft or harassment.

A contract may allow a party or both parties to elect to bring it to an end, for no specific reason. If that is the case, understanding the notice requirements will be incredibly important.

A Termination Without Cause clause is a contractual provision that allows one or both parties to terminate the agreement without stating a specific reason or cause, typically upon providing advance written notice and subject to certain conditions or consequences.

Comment: A termination without cause provision (also called a “termination for convenience” clause) permits one or both parties to terminate the agreement at any time after an initial contracting period.

Just causes refer to situations where the employee has committed acts that warrant termination due to misconduct or failure to meet obligations. These causes are well-delineated under Article 297 of the Labor Code.

A Termination Without Cause clause is a contractual provision that allows one or both parties to terminate the agreement without stating a specific reason or cause, typically upon providing advance written notice and subject to certain conditions or consequences.

Sample Language At any time after the expiration of the Initial Term, PurchaserSuppliereither party may terminate this Agreement, with or without cause, upon not less than Number, e.g., 180 days' written notice to the other party.

Check that you have a ground for termination Most contracts will include clauses about specifically when a contract will be terminated, so it should be clear whether or not you have grounds for termination. But there's also a general right to terminate a contract if a breach of contract occurs.

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Contract Termination Without Cause In Fulton