An accelerated clause is a term in a loan agreement that requires the borrower to pay off the loan immediately under certain conditions. An accelerated clause is typically invoked when the borrower materially breaches the loan agreement....
contract law
(Wex page)
In tort law, actual damages, also known as compensatory damages, are damages awarded by a court equivalent to the loss a party suffered. If a party’s right was technically violated but they suffered no harm or losses, a court may instead...
(Wex page)
An addendum is an addition to a finished document, such as a contract. The most common addendum is an attachment or exhibit at the end of such a document. For example, a contract to manufacture widgets may have an addendum listing the...
(Wex page)
An adhesion contract exists if the parties are of such disproportionate bargaining power that the party of weaker bargaining strength could not have negotiated for variations in the terms of the adhesion contract. Adhesion contracts are...
(LIIBULLETIN preview)
This is an original jurisdiction case brought by the States of Alabama, Florida, Tennessee, and Virginia, joined by the Southeast Interstate Low-Level Radioactive Waste Management Commission (the "Commission") (collectively "petitioners") seeking...
(Wex page)
Under section 2-313 of the Uniform Commercial Code, when determining whether an express warranty exists or is valid in a sale of goods between two parties, the court asks if any promise or affirmation, any description of the goods, or any...
(Wex page)
Capacity refers to the ability to make a rational decision based upon all relevant facts and considerations. Some common usages of the term “capacity” in a legal sense include:
In the context of criminal law, the term “capacity” means... (Wex page)
Course of dealing refers to a sequence of conduct regarding previous transactions which can reasonably be seen as evidence of a common basis of understanding between the parties.
If a television company generally includes a 30-day... (Wex page)
Course of performance refers to a sequence of conduct between two parties with respect to a particular transaction.
As per UCC §1-303, a course of performance exists for a given transaction if: The transaction involves multiple... (Wex page)
In civil cases, damages are the remedy that a party requests the court award in order to try to make the injured party whole. Typically damage awards are in the form of monetary compensation to the harmed party. Damages are imposed if the...