Colorado Entire Agreement and No Waiver

State:
Multi-State
Control #:
US-OL18013
Format:
Word; 
PDF
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Description

This office lease contains the entire agreement between the parties and all prior negotiations and agreements are merged in this lease. The owner has not made any warranties with respect to the demised premises, the building, the real property or this lease except as expressly set forth in this lease and no rights, easements or licenses are or shall be acquired by the tenant by implication or otherwise unless expressly set forth in this lease.

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FAQ

By inserting a 'no waiver' clause into the relevant contract, the intention is that one party's failure or delay to enforce its rights or remedies, following a breach of contract by the other party, does not result in the loss of those rights or remedies.

Rather, a non-waiver clause generally provides that the parties to a contract may not change or modify their agreement unless both parties agree to the proposed change or modification in writing.

The contract contains a ?non-waiver? clause that provides, ?a failure or delay in enforcing an obligation, or exercising a right or remedy, does not amount to a waiver of that obligation, right or remedy.? In non-legal terms, this means, ?if we don't call you in breach of contract and enforce our rights, it doesn't ...

The waiver clauses are helpful when there is a contract breach and requires the party to decide right away. It helps the parties decide whether to waive the rights or assert the other party.

If you're the party who can enforce a right, you should include a waiver clause to ensure that you won't unintentionally lose your ability to do so in the future.

The contract contains a ?non-waiver? clause that provides, ?a failure or delay in enforcing an obligation, or exercising a right or remedy, does not amount to a waiver of that obligation, right or remedy.? In non-legal terms, this means, ?if we don't call you in breach of contract and enforce our rights, it doesn't ...

Simply put, a no waiver clause should spell out the fact that both parties always have the right to enforce the terms of the contract.

It is an act of voluntarily giving up a right, and can apply to a variety of legal situations including knowingly giving up a legal right such as a speedy trial, a jury trial, giving up some rights in a settlement talk, or not enforcing a term of contract.

A waiver of a right usually means that the contracting party loses the right to assert a breach of contract claim. With that, the consequential claim for damages and other remedies which may have been available are lost. The law views the situation as one where there has been no breach of contract, due to the waiver.

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Colorado Entire Agreement and No Waiver