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Wilful default: Difference between revisions
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===Contractual [[definitions]]=== | ===Contractual [[definitions]]=== | ||
Thus you do see earnest legal eagles trying to define it. Most such efforts wind up in an untidy tautological heap — “any wilful failure to comply with or wilful breach of any of its obligations under this deed” sort of thing — but some do try to break the usual vicious circle: | Thus you do see earnest legal eagles trying to define it. Most such efforts wind up in an untidy tautological heap — “any wilful failure to comply with or wilful breach of any of its obligations under this deed” sort of thing — but some do try to break the usual vicious circle: | ||
{{quote| | {{quote|''“'''Wilful Default'''” means a deliberate act or omission which will result in (and can reasonably be expected to have been intended to result in) a breach of this Agreement and which, as soon as practicable, but in any event within 30 days after written notice (particularising the alleged breach) is given to the party alleged to be in default, is not either: <br>(a) acknowledged by the defaulting party and rectified; or<br>(b) disputed by the party allegedly in default and referred to dispute resolution in accordance with clause 15, but if the notice of default is ultimately determined by arbitration or order of a court or agreement to have been justified, then rectified as soon as practicable but in any event within 30 days of the adjudication or agreement.''}} | ||
(a) acknowledged by the defaulting party and rectified; or | I mean to the extent it doesn’t shriek “[[negotiation oubliette]] alert”, it shrieks “shoot me”, right? | ||
(b) disputed by the party allegedly in default and referred to dispute resolution in accordance with clause 15, but if the notice of default is ultimately determined by arbitration or order of a court or agreement to have been justified, then rectified as soon as practicable but in any event within 30 days of the adjudication or agreement.}} | |||
I mean [[negotiation oubliette]] | |||
===Authority=== | ===Authority=== | ||