Oregon Default Remedy Clause

State:
Multi-State
Control #:
US-OL14031
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Description

This office lease form is a standard default remedy clause, providing for the collection of the difference between the rent due and owing under the lease and the rents collected in the event of mitigation.

The Oregon Default Remedy Clause, also known as the Default Clause or Remedies Clause, is a legal provision that outlines the specific remedies available to a non-breaching party when the other party fails to perform its contractual obligations in the state of Oregon. It serves as a safeguard to ensure that parties can seek appropriate relief when the terms of a contract are violated. One type of Oregon Default Remedy Clause is the Liquidated Damages Clause. This clause allows parties to agree in advance on the amount of damages that will be payable if there is a breach of contract. The predetermined sum serves as compensation for the non-breaching party and saves them from the hassle of proving actual damages suffered. Another type is the Specific Performance Clause. When this clause is included in a contract, it allows the non-breaching party to demand the breaching party to fulfill their obligations as specified in the agreement. This remedy is common in cases where the subject of the contract is unique or where monetary compensation would not adequately compensate the non-breaching party. In some cases, the Oregon Default Remedy Clause may grant the option of Rescission. This means that the contract is declared void, and both parties are released from their obligations. This remedy is often utilized in situations where the contract was formed based on fraudulent misrepresentation or a mistake. In addition, the clause may include the option of Reformation. This allows the court to rewrite certain terms of the contract to reflect the original intentions of the parties. Reformation is typically exercised when a contract contains ambiguous or contradictory clauses, rendering the original agreement unenforceable. One must also consider the Availability of Attorneys' Fees in the Oregon Default Remedy Clause. In certain cases, the prevailing party may be entitled to reimbursement for the legal fees incurred in enforcing the contract or defending against a breach. This provision serves as an incentive for parties to honor their contractual obligations and discourages frivolous litigation. Overall, the Oregon Default Remedy Clause is a vital part of any contract formed within the state. It ensures that parties have a legal recourse in case of a breach and provides clarity on the available remedies. Whether it is liquidated damages, specific performance, rescission, reformation, or attorneys' fees, the parties can choose the most suitable remedy or a combination thereof, depending on the nature of the breach and their desired outcome.

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FAQ

ORS 90.453 ? Termination by tenant who is victim of domestic violence, sexual assault or stalking.

Most lawsuits related to the rental agreement and the Oregon Residential Landlord and Tenant Act must be filed (started in court) within one year of the incident. There may be other - shorter - time limits that apply in other cases.

The tenant may contact you in person, by writing or emailing, or with a phone call. You then must allow up to 15 more days for the tenant to collect the belongings. The time period is longer (30 days) for abandoned manufactured dwellings, floating homes, and recreational vehicles.

Time Limit Warning/Statute of Limitations Most lawsuits related to rental agreements, or the Landlord and Tenant Act, must be filed (started in court) within one year. The time limits under fair housing law may be longer.

The landlord must wait at least four days after rent is due to charge a late fee. While nonpayment of a late charge alone is not grounds for eviction for nonpayment of rent, nonpayment of a late charge may be grounds for a 30-day for-cause eviction. Interest charges on unpaid late fees can also be imposed.

Renters who rent month-to-month or have a lease must get at least 10 days' notice before a landlord can evict them for not paying their rent. If a renter pays the full late rent during the 10-day notice period, the landlord cannot file an eviction for unpaid rent.

Under the new laws, renters have important rights that can help protect from eviction because of nonpayment of rent, fees, or other money owed to a landlord. These new rights include: Termination notices for nonpayment of rent must give at least 10 days for renters to pay the late rent and stay in their homes.

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Apr 30, 2014 — A well-written default provision will state that the tenant is in default if rent remains unpaid within a specified number of days after it is ... The practical and legal effect of this clause is that if the seller defaults – usually by refusing to close the transaction – the buyer has the right to ...(A) To remedy the tenant's defaults in the performance of the rental agreement including, but not limited to, unpaid rent; and. (B) To repair damages to the ... However, a refund of the deposit is not the buyer's only remedy should the seller default; buyer may also bring a claim for specific performance and/or damages. Contractor commits any material breach or default of any covenant, warranty, obligation, certification, or agreement under this Contract, fails to perform the ... If a court determines that Contractor was not in default under. Sections 14.1, then Contractor will be entitled to the same remedies as if this Contract was ... by R Isham · 1981 · Cited by 3 — Chief among these remedies is forfeiture, which allows the seller to cancel the contract and repossess the property, while re- taining payments and improvements ... Resort to a remedy provided under this chapter or in the lease agreement is optional unless the remedy is expressly agreed to be exclusive. If circumstances ... This booklet covers laws that apply to rented housing everywhere in Oregon. But some cities have extra laws and rules. Portland, for example, has more ... “Post-Default Rate” means a rate per annum equal to the sum of 2% plus the rate applicable to Base Rate (as defined in the Credit Agreement) Loans from time to ...

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Oregon Default Remedy Clause