An abatement clause is a provision in a contract or lease agreement that allows for a reduction or elimination of rent or other payments in certain circumstances. This clause is typically included to protect the tenant or party making the payments in the event of unforeseen circumstances, such as damage to the property or a disruption in services. The abatement clause outlines the specific conditions under which the rent or payments can be reduced or suspended, as well as the process for notifying the landlord or other party. It is important for both parties to carefully review and understand the abatement clause before entering into a contract or lease agreement.
An abatement clause is a provision in a contract that allows for a reduction or suspension of payments or obligations under certain circumstances, such as a force majeure event or a breach of contract.
An abatement clause can be invoked when there is a specific triggering event outlined in the contract, such as a natural disaster, government action, or other unforeseen circumstances that make it impossible or impracticable to fulfil the terms of the contract.
Abatement clauses are commonly found in construction contracts, lease agreements, and service contracts where there is a possibility of unforeseen events impacting the ability to perform under the contract.
Yes, abatement clauses are typically negotiable and can be modified to reflect the specific needs and concerns of the parties involved in the contract.
The process for invoking an abatement clause will be outlined in the contract itself and may require written notice to the other party, documentation of the triggering event, and potentially a determination by a third party or arbitrator.
The abated payments or obligations are typically either suspended for the duration of the triggering event or reduced to reflect the impact of the event on the contract.
Yes, if one party fails to perform under the contract due to a triggering event covered by the abatement clause, it can be used as a defence in a legal dispute over non-performance.
Abatement clauses must be drafted carefully to ensure that they are enforceable and do not violate any laws or public policy. Additionally, the triggering events must be clearly defined to avoid ambiguity.
An abatement clause can be waived if both parties agree to waive its application in certain circumstances. This would typically require an amendment to the contract.
If you have questions about an abatement clause in a contract, it is important to consult with a qualified attorney who can review the contract and provide guidance on your rights and obligations under the clause.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 12th April 2024.
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