An independent promise refers to a commitment made by one individual to another, without any restrictions or limitations. It is a legally enforceable agreement. A promise can be explicit or implied, and it can be made in exchange for something (consideration) or without any expectation of compensation (gratuitous). An independent promise should not be confused with a conditional promise, which is contingent upon the happening of a particular event.
An independent promise is a binding promise that is not conditional or reliant on any other obligation or condition. It is a promise that the law will enforce. For instance, if a company guarantees to pay its employee a $5,000 bonus at the end of the year only if they achieve specific performance targets, this would not be considered an independent promise as it is contingent on the employee meeting those targets. On the other hand, if the company promises to pay the employee the same bonus amount regardless of their performance, this would be an independent promise since it is not contingent on any other obligation or condition. In summary, an independent promise is a standalone commitment that does not rely on any other factors.
An independent promise refers to a contractual obligation that stands alone and is not dependent on any other promises or conditions within the contract. It is enforceable even if other parts of the contract are not fulfilled.
A dependent promise is contingent upon the fulfillment of other promises or conditions within the contract. If those conditions are not met, the dependent promise may not be enforceable. On the other hand, an independent promise is enforceable regardless of the fulfillment of other promises or conditions.
Yes, an independent promise can still be enforced even if other parts of the contract are deemed invalid. This is because the independent promise is considered separate and distinct from the rest of the contract.
Yes, an independent promise can be modified or terminated separately from the rest of the contract, as long as both parties agree to the modification or termination. However, it is important to review the contract terms and any applicable laws to ensure compliance with any notice or formalities required.
In most cases, an independent promise can be assigned to another party, unless the contract explicitly prohibits assignment. However, it is important to review the contract terms and any applicable laws to ensure compliance with any notice or consent requirements for assignment.
Yes, an independent promise can still be enforced if the other party breaches the contract. The non-breaching party can seek remedies for the breach of the independent promise, such as damages or specific performance.
Yes, an independent promise can be waived by one party if they voluntarily choose to release the other party from their obligation. However, it is important to note that such a waiver may need to be in writing and comply with any notice or formalities required by the contract or applicable laws.
If the contract is silent on the independence of a promise, courts will typically interpret it based on the intention of the parties and the overall context of the contract. If the promise can be reasonably construed as independent, it may be enforceable as such.
If an independent promise contradicts other provisions in the contract, it may still be enforceable if the parties intended it to be separate and distinct. However, if the contradiction is significant and creates ambiguity, it may be subject to interpretation by a court.
No, an independent promise that is illegal or against public policy cannot be enforced. Courts will not enforce contracts or promises that are illegal or contrary to public policy, regardless of their independence.
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: 17th April 2024.
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