This form is used if any party fails or is unable to pay its proportionate share of the costs for the operation, the Operator shall have the right to enforce the lien, or the Operator shall have the right, exercised before or after Completion of the operation.
Tennessee Rights of Operator Against A Defaulting Party Pre 1989 Agreements
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US-OG-719
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How to fill out Rights Of Operator Against A Defaulting Party Pre 1989 Agreements?
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FAQ
Your notice or cancellation must be sent in by midnight of the third business day after signing the contract. If you mail the cancellation, it must be postmarked by the third business day.
The Duty of Good Faith and Fair Dealing In general, every contract contains an implied duty of good faith and fair dealing. This duty requires that neither party will do anything that will destroy or injure the right of the other party to receive the benefits of the contract.
When a contract vests one party with a degree of discretion in performance (example: applying for a loan, performing inspections, negotiating repairs), there is an obligation of Good Faith to observe reasonable limits in exercising that discretion consistent with common standards of decency, fairness and reasonableness ...
Tennessee is a right-to-work state. However, this is different from employment at-will. Right-to-work means that you cannot be forced to join a union in Tennessee.
In essence, this duty requires parties to a contract to act in good faith and with honesty in exercising their rights under a contract and in delivering their obligations under a contract.
The Tennessee Supreme Court ruled that where contracting parties have agreed to allow assignment of a contract with the consent of the non-assigning party, and the agreement is silent regarding the anticipated standard of conduct in withholding consent, an implied covenant of good faith and fair dealing requires the ...
Governing Law ? Under Tennessee's partnership act, partners may choose the applicable state law by which the partnership will be governed, whereas the Revised Uniform Partnership Act provides that laws of the state in which a partnership's ?chief executive office? (an undefined term) is located govern the partnership.
The duty of good faith includes a duty not to act in bad faith ? meaning a prohibition on conduct which would be regarded as commercially unacceptable by reasonable and honest people but not necessarily dishonest.
