Contingency Contract Examples If you fail to secure the financing within the stipulated period, either party may terminate the contract without any legal consequences. Another simple example is a child who agrees with their parent that they would receive a new bicycle if they receive an A in a specific class.
A contingency plan in the educational context is a comprehensive strategy designed to prepare educational institutions for unforeseen events that could disrupt normal operations. Imagine a scenario where a sudden natural disaster forces a school to close physically.
Examples of contingency plans in business could include: Strategies to ensure minimal operational disruption during crises, such as unexpected market shifts, regulatory compliance changes, or severe staff shortages.
Contingency planning: A management process that analyses specific potential events or emerging situations that might threaten society or the environment and establishes arrangements in advance to enable timely, effective and appropriate responses to such events and situations.
A contingency clause is a contract provision that requires a specific event or action to take place in order for the contract to be considered valid. If the party that's required to satisfy the contingency clause is unable to do so, the other party is released from its obligations.
A contingency plan involves anticipating and planning for an alternate delivery of course material and communication with students when technology is not available.
The new law states that a teacher who completes three years of service with two overall evaluations of “Excellent” is entitled to tenure. The statutory language does not specify that the ratings must be in consecutive years.
§ 24-14. Termination of contractual continued service by teacher. A teacher, as defined in Section 24-11 of this Code, who has entered into contractual continued service may resign at any time by obtaining concurrence of the board or by serving at least 30 days' written notice upon the secretary of the board.