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Survival of obligations: Difference between revisions
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One does not need a survival of obligations clause to attain that outcome. That is the whole point of the law of contract. | One does not need a survival of obligations clause to attain that outcome. That is the whole point of the law of contract. | ||
====Security arrangements==== | |||
For some reason the presence of a security arrangement — deep magic for certain strip of legal eagle — gives rise to survival clauses. | |||
====NDAs==== | |||
An interesting conceptual question is what happens on an NDA when it terminates — often (but the JC has never quite understood why) expressed to have a one or two year term. It not really being possible to return electronic information, what happens? are you just allowed to publish it to the world? | |||
Of course not — yet it is not that common to include a survival of obligations clause (there is not one in the OneNDA, for example) | |||
====ISDA==== | |||
You see it in the {{isdama}} thought there the vibe is slightly different, in that it clarifies that obligations survive a termination of a {{isdaprov|Transaction}} — at which point the master agreement itself is still in situ. | |||
{{sa}} | |||
*{{isdaprov|Survival of Obligations}} (ISDA) | |||