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Aug 5, 2023 · 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.
Feb 22, 2024 · What exactly are escape clauses? They are provisions within contracts that allow one or both parties to terminate the agreement under specific contained in the contract circumstances without facing penalties. In other words, they are a part of a contract that lets one person off the hook if certain things happen.
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. Because of the escape clause, they could exit the agreement if sales declined.
Mar 5, 2024 · An escape clause is a clause in a contract which allows a party to break the contract without penalty under certain situations. Escape clauses are designed to prevent people from feeling like they are forced into complying with a contract when circumstances change.
a statement in a contract that allows you to break all or part of the contract under particular conditions. (Definition of escape clause from the Cambridge Business English Dictionary © Cambridge University Press) Examples of escape clause. escape clause.
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. What does escape clause mean in law?
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Generally, an escape clause is a contractual provision that allows nonperformance of the contract upon the occurrence of a specified condition. In labor law, an escape clause is a provision in maintenance of membership union contracts giving union members an "escape period" during which they may resign from union membership.
