Assertion: contract | /r/CapableOf | involve party
Facets:
value: typically
type: DEGREE
value: to provide notice
type: PURPOSE
value: to do something
type: PURPOSE
value: to perform its obligations
type: PURPOSE
value: to consent to the assignment
type: PURPOSE
value: to perform acts
type: PURPOSE
Source sentences:
text: As both parties risk their counter-party walking away if the price goes against them, the contract may involve both parties lodging a margin of the value of the contract with a mutually trusted third party.
text: The contract required one party to perform acts that are impossible or depend on impossible events
text: It involves one party (or a group of parties) offering something of value to another party (or group) as payment for a service, item, action, etc.
text: This produced difficulties in cases where the contract required each party to perform its obligations in a different country, or where the place of performance was dictated by later circumstances.
text: Some contracts may contain a clause prohibiting assignment; other contracts may require the other party to consent to the assignment.
text: A contract that requires one or both of the parties to do something illegal or that exists in order to complete an illegal objective is not binding on either party.
text: Contracts typically involve parties who are "competent" to enter a contract, meaning that they are not a minor or mentally disabled, and a mutual agreement between the parties.
text: Contracts typically require one party to provide notice to the other party in the event one party thinks the contract was breached, when termination of the contract is desired, or in other instances specific to each contract.