What does severable contract mean?
Definitions for severable contract
sev·er·able con·tract
This dictionary definitions page includes all the possible meanings, example usage and translations of the word severable contract.
Princeton's WordNet
severable contractnoun
a contract which, in the event of a breach by one of the parties, can be considered as several independent agreements expressed in a single instrument
Wikipedia
Severable contract
In contract law, a severable contract is a contract that is actually composed of several separate contracts concluded between the same parties, so that failing (breaching) one part of such a 'severable' contract does not breach the whole contract. Therefore, the other party must still honor the other subparts and cannot cancel the whole agreement. A severable contract generally must contain a "severability clause" that allows certain clauses and aspects of the contract to be "severed" without affecting the validity of the rest of the contract. For example, if Mr. X purchases a computer, a scanner, a printer and a desk from a retailer, and the retailer cannot deliver the printer, the other parts of the contract (the computer, the scanner and the desk) are still valid and must be honored. The above example, however, is incomplete. If Mr. X purchases a computer, scanner, printer and desk as part of a package, with the explicit agreement that all parts must be delivered together, the failure to deliver the printer may be material breach of the entire contract. In addition, if a contract is made explicitly for a set - such as a complete set of books, furniture or clothes - the failure to deliver the entire set is almost certainly a breach of the entire contract. Also termed divisible contract.
ChatGPT
severable contract
A severable contract is a type of agreement that includes various items, parts, or services that can be separated into distinct individual contracts. Each portion of the contract can be fulfilled separately and is independent of the other parts. In case one part of the contract is void, illegal, or unenforceable, it does not affect the validity or applicability of the rest of the contract.
Wikidata
Severable contract
In contract law, a severable contract is a contract that is actually composed of several separate contracts concluded between the same parties, so that failing one part of such a 'severable' contract does not breach the whole contract. Therefore, the other party must still honor the other subparts and cannot cancel the whole agreement. A severable contract generally must contain a "severability clause" that allows certain clauses and aspects of the contract to be "severed" without affecting the validity of the rest of the contract. For example, if Mr. X purchases a computer, a scanner, a printer and a desk from a retailer, and the retailer cannot deliver the printer, the other parts of the contract are still valid and must be honored. The above example, however, is incomplete. If Mr. X purchases a computer, scanner, printer and desk as part of a package, with the explicit agreement that all parts must be delivered together, the failure to deliver the printer may be material breach of the entire contract. In addition, if a contract is made explicitly for a set - such as a complete set of books, furniture or clothes - the failure to deliver the entire set is almost certainly a breach of the entire contract.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of severable contract in Chaldean Numerology is: 7
Pythagorean Numerology
The numerical value of severable contract in Pythagorean Numerology is: 3
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"severable contract." Definitions.net. STANDS4 LLC, 2024. Web. 19 Apr. 2024. <https://www.definitions.net/definition/severable+contract>.
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