Examlex
What do you call a flood due to the temporary obstruction of river flow by ice buildup?
Exculpatory Condition
A provision in a contract or agreement that frees one party from legal liability for any harm or damage caused.
Condition Precedent
A contractual condition that must be fulfilled before a party’s performance is required under a contract.
Anticipatory Breach
A situation where one party indicates they will not fulfill their contractual obligations before the performance is due, allowing the other party to seek legal remedies.
Materially Breached
Occurs when one party fails to perform their obligations under a contract in such a way that it affects the very essence of the agreement.
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