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A default is a failure to comply with a provision in the lease. Curing or remedying the default means correcting the failure or omission. A common example is a failure to pay the rent on time.
What is a sole remedy clause?
A sole and exclusive remedy clause allows parties to a contract to choose specific remedies and relief available under the terms of the agreement.
What is a default clause?
A default clause is a provision in a legal contract that states what will happen if either party in a contract defaults or fails to hold up their end of the agreement.
What is a remedy clause?
A remedies clause sets forth the parties intention to provide for equitable remedies for bdocHub of contract, in addition to or instead of just monetary relief. A remedies clause can also be used to limit the relief the parties can obtain upon bdocHub of the contract.
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