Further Assurance refers to a commitment made by a seller or donor of property to ensure that the recipient possesses all the essential documentation to establish their ownership. This commitment entails that if any additional paperwork is required in the future, the seller will furnish it. Essentially, it serves as a guarantee that the new owner will possess all the necessary evidence to substantiate their ownership of the property.
Further assurance is a covenant in a warranty deed where the grantor pledges to execute any necessary documents in the future to perfect the title conveyed by the original deed. For instance, when John sold his house to Jane, he included a further assurance clause in the warranty deed, assuring that he would provide any additional documents required to establish clear title for Jane. In the context of a business contract, if one party has doubts about the other party’s ability to fulfil their obligations, they may request further assurance in the form of a bond or proof of income. These examples demonstrate how further assurance entails a commitment to furnish additional documents or guarantees to ensure the successful completion of a transaction and instill confidence in all parties involved.
Further assurance refers to the obligation of parties to a contract to take additional steps or actions to ensure that the terms of the contract are fully carried out and implemented.
Further assurance may be necessary when a contract is ambiguous or incomplete, or when one party fails to fulfill their obligations as outlined in the contract.
Examples of further assurance may include providing additional documentation, obtaining necessary permits or licenses, or taking specific actions to fulfill the terms of the contract.
Yes, further assurance can be required after a contract has been signed if it becomes apparent that additional steps are necessary to fully implement the terms of the contract.
If a party refuses to provide further assurance as required by the contract, they may be in breach of the contract and could be subject to legal action by the other party.
Yes, further assurance can be implied in a contract if it is necessary to give effect to the intentions of the parties and to ensure the contract is carried out as intended.
Further assurance can be enforced through legal remedies such as specific performance, where a court orders a party to fulfill their obligations under the contract.
No, further assurance is not the same as a warranty or guarantee. It is a separate obligation to take additional steps to ensure the fulfillment of the contract.
Yes, parties to a contract can agree to waive the requirement for further assurance, but this must be clearly stated in the contract and agreed upon by all parties.
It is advisable to seek legal advice when dealing with further assurance in a contract, as it can have significant implications for the rights and obligations of the parties involved.
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: 16th April 2024.
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