Define: Sum Certain

“Sum certain” refers to a specific and definite amount of money that is owed or agreed upon in a legal contract or agreement.

In general, a sum certain cannot be changed or modified without the consent of all parties involved. However, there may be certain circumstances or provisions in the contract that allow for modifications under specific conditions.

If one party fails to pay the sum certain as agreed upon, the other party may have legal remedies available to them, such as filing a lawsuit to enforce the payment or seeking damages for the breach of contract.

Yes, a sum certain is always expressed in monetary terms. It represents a specific amount of money that is owed or agreed upon.

A sum certain can be determined through negotiation between the parties involved. It can either be specified in the contract or agreed upon separately and incorporated into the contract later.

Yes, a sum certain can be paid in installments if both parties agree to such an arrangement. This can be specified in the contract or agreed upon separately.

Yes, a sum certain can be subject to interest if the contract or agreement includes provisions for interest payments. However, this would need to be explicitly stated in the contract.

In some cases, a sum certain can be disputed or challenged if there is evidence or a valid reason to believe that the agreed-upon amount is incorrect or unjust. This may require legal intervention to resolve the dispute.

Yes, a sum certain can be waived or forgiven if both parties agree to such an arrangement. This would typically require a formal agreement or contract amendment to document the forgiveness or waiver.

If the contract is silent on the enforcement of a sum certain, it may still be enforceable under general legal principles. However, it is always advisable to have clear and explicit terms regarding the sum certain in the contract to avoid any ambiguity or disputes.