This form provides a boilerplate contract clause authorizing each party's attorney to give notice on behalf of his or her client.
Montana Notice Provisions - Giving of Notice as an Obligation or as a Condition Precedent
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How to fill out Notice Provisions - Giving Of Notice As An Obligation Or As A Condition Precedent?
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FAQ
In Real Estate, condition subsequents typically render the agreement void should notice be given. An example for a Condition Subsequent is: Upon receipt of the above notice, this Agreement shall be null and void and the deposit shall be returned to the Buyer in full without deduction.
Every notice, approval, consent, or other communication required by this lease shall be in writing and shall be sent postage prepaid (1)by United States registered or certified mail, return receipt requested, (2)by nationally recognized overnight delivery service or (3)by hand directly to the other party, at its ...
In a contract, a condition precedent is an event that must occur before the parties are obligated to perform. For example, an insurance contract may require the insurer to pay to rebuild the customer's home if it is destroyed by fire during the policy period.
In law, a condition subsequent is an event, or state of affairs, whose occurrence is automatically construed to terminate the obligation of one party to the other. One example is that, if a man agreed to pay a barber to shave his beard, the barber then failing to do so would terminate the man's obligation to pay.
In preparing any condition precedent clause, consideration should be given to (i) who is responsible for discharging the condition; (ii) by when must the condition be discharged (i.e., a "drop dead" date); and (iii) which party, if any, may be entitled to waive the condition (i.e., typically the beneficiary of the ...
Something that must be done before an official agreement can become law: Full compliance with the relevant procedure will be a condition precedent to the completion of the transaction.
For example, in real estate, a mortgage contract will have a condition precedent that an inspection to assess the condition and value of the property must occur. That assessment must be agreed upon by both the buyer and the lender before the mortgage contract takes effect.
In preparing any condition precedent clause, consideration should be given to (i) who is responsible for discharging the condition; (ii) by when must the condition be discharged (i.e., a "drop dead" date); and (iii) which party, if any, may be entitled to waive the condition (i.e., typically the beneficiary of the ...
