What is Resolutive condition?

What is Resolutive condition?

A resolutive condition is an arrangement between the parties that an agreement will end in the event of certain circumstances. Example: the contract can be terminated when a licence for use of a catering establishment is withdrawn.

What is the difference between suspensive and resolutive condition?

What is a Resolutive condition? Whereas the fulfillment of a suspensive condition breathes life into otherwise inoperative rights and obligations, the fulfillment of a resolutive condition ends the existence of rights and obligations (or the entire contract).

What is an obligation with a period?

An obligation with a period is a kind of obligation wherein its performance is subject to a term or period, and can only be demandable when that period expires. Such period is ‘a day certain’ which must necessarily come, although it may not be known when.

What is a Resolutive time clause?

June 27, 2016 No Comments on Resolutive time clause. A clause that limits the period of time that the obligations outlined in a contract have an effect and can be enforced. This period can be defined by the arrival of a specific moment or as a fixed length of time (Schulze et al., 2016: 105).

What is the example of Resolutory condition?

RESOLUTORY CONDITION. On which has for its object, when accomplished, the revocation of the principal obligation; for example, I will sell you my crop of cotton, if my ship America does not arrive in the United States, within six months. My ship arrives in one month, my contract with you is revoked.

What is an example of suspensive condition?

Examples of suspensive conditions are obtaining bond approval before a certain date, or the sale of the Purchaser’s current property before a certain date. Such extension must be in writing and signed by both the Seller and Purchaser as per the requirements of the Alienation of Land Act 68 of 1981.

What is a positive condition?

A positive condition in the law refers to an event that is to take place in order for a condition to be met, as opposed to the non-occurrrence of an event, which would be a negative condition. For example, “if I have children'” is a positive condition and “if I don’t have childen” is a negative condition.