Types of Contract Clauses

Question 1

Clause in a contract requiring the obligor to pay all or part of a payable amount sooner than agreed upon the occurrence of some event stated in the contract.

Answer 1

Accelaration

Question 2

Clause prohibiting or permitting assignment under certain conditions.

Answer 2

Assignment

Question 3

Clause concerning the treating of information as private, only for specifically identified individuals or organisations and specifically purposes.

Answer 3

Confidentiality

Question 4

expresses the cause, motive which induces 1 party to enter into an agreement.

Answer 4

Consideration

Question 5

Clause designed to protect against failures to perform contractual obligations caused by unavoidable events beyond the party’s control

Answer 5

Force majeure

Question 6

Clause referring to an amount predetermined by the parties as the total amount of compensation in case 1 of the parties breaching a part of the contract.

Answer 6

Liquidated Damages

Question 7

Clause stating that the written terms of an agreement may not be varied by prior or oral agreements;

Answer 7

Entire Agreement

Question 8

Clause providing that, if 1 or more provisions of the agreement are declared unenforceable, the balance of the agreement remains in force.

Answer 8

Severability

Question 9

Clause outlining when and under which circumstances the contract may be terminated.

Answer 9

Termination

Question 10

Clause setting out which party is responsible for payment of costs related to preparation of the agreement and ancillary documents.

Answer 10

Payment of Costs