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- DictionaryEs·cape clause/əˈskeɪp/
noun
- 1. a clause in a contract that specifies the conditions under which one party can be freed from an obligation.
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Mar 22, 2024 · escape clause. noun. : a clause in a contract that allows a party to avoid liability under the contract for specified reasons. especially : a provision in an insurance policy that denies coverage when other insurance covers the risk.
A section of a contract allowing a participant to avoid a commitment if a specific instance arises. How to use "escape clause" in a sentence. The construction contract included an escape clause in case of natural disasters.
An escape clause, also known as a termination clause or exit clause, is a contractual provision that allows one or both parties to terminate or modify their obligations under the contract under certain circumstances.
An escape clause is a provision in a legal contract that allows one or both parties to terminate or modify the agreement under certain circumstances. It gives them a way to "escape" from the contract if specific conditions are met.
ESCAPE CLAUSE definition: a statement in a contract that allows you to break all or part of the contract under particular…. Learn more.
An escape clause is a contractual provision that absolves one party to the contract of performance under specific conditions. An escape clause relieves one party of liability for nonperformance if certain conditions are met. Insurance policies frequently contain escape clauses.
Definition of escape clause in the Legal Dictionary - by Free online English dictionary and encyclopedia. What is escape clause? Meaning of escape clause as a legal term.
Find the legal definition of ESCAPE CLAUSE from Black's Law Dictionary, 2nd Edition. Allowance for withdrawing from a contract when specified conditions occur. Can also allow changing these conditions.
ESCAPE CLAUSE meaning: a statement in a contract that allows you to break all or part of the contract under particular…. Learn more.
Escape clause definition: a provision in a contract that enables a party to terminate contractual obligations in specified circumstances.. See examples of ESCAPE CLAUSE used in a sentence.
