Irrevocable Agreement Form For Car
Description
How to fill out Irrevocable Trust Agreement For Benefit Of Trustor's Children And Grandchildren?
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FAQ
If a decision, action, or change is irrevocable, it cannot be changed or reversed.
Adjective. If a decision, action, or change is irrevocable, it cannot be changed or reversed. [formal] He said the decision was irrevocable. Synonyms: fixed, settled, irreversible, fated More Synonyms of irrevocable.
An irrevocable agreement is a contract between two or more parties that immediately binds all signing parties to the terms and conditions once signed. In other words, once signatures are collected, parties to the contract are prohibited from backing out of the agreement.
A contract condition is a clause in a contract that sets out what will happen if certain conditions are not met. For example, a contract may state that if the buyer does not pay for the goods within 30 days, the seller can cancel the contract and keep the deposit.
This is common in real estate transactions involving a lease with an option to purchase. The property owner rents the property to the lessee with the option to purchase the property at a future time for a specific price. Such an offer to sell the property to the lessee is irrevocable.