Resile refers to retracting or revoking something previously stated or agreed upon, or returning to the initial starting point.
Examples 1, 2, and 3 showcase the various applications of the term “resile.” In Example 1, an individual retracts a statement they had previously made. Example 2 involves a company withdrawing from a previously agreed contract. Lastly, Example 3 depicts a spring returning to its original position after being compressed. All these instances highlight the concept of something reverting to its initial state or position.
A: Resiling from a contract means to withdraw from or cancel the agreement.
A: No, resiling from a contract may only be done in certain circumstances, such as a breach of contract by the other party.
A: The consequences of resiling from a contract may include financial penalties or legal action by the other party.
A: No, changing your mind is not a valid reason to resile from a contract.
A: Resiling from a contract typically requires written notice to the other party.
A: Yes, resiling from a contract may be an option if the other party breaches the agreement.
A: If both parties agree to resile from a contract, they may negotiate new terms or simply cancel the agreement.
A: It depends on the circumstances and the terms of the contract. Consult with a lawyer for specific advice.
A: Resiling from a contract typically involves withdrawing from the agreement due to a breach or other issue, while terminating a contract may involve ending the agreement for other reasons.
A: It is recommended to consult with a lawyer before resiling from a contract to ensure that you are following the proper legal procedures and protecting your rights.
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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