What does severable contract mean?

Definitions for severable contract
sev·er·able con·tract

Here are all the possible meanings and translations of the word severable contract.

Princeton's WordNet

  1. 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

Freebase

  1. 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.

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Numerology

  1. Chaldean Numerology

    The numerical value of severable contract in Chaldean Numerology is: 7

  2. Pythagorean Numerology

    The numerical value of severable contract in Pythagorean Numerology is: 3

Images & Illustrations of severable contract

  1. severable contractseverable contractseverable contractseverable contractseverable contract

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