escape clause

escape clause
A clause in the lease of a tenant-stockholder in a cooperative apartment which permits him to assign his stock and lease to the cooperative association without receiving compensation therefor but enabling him to escape continuing liability to the association for payments otherwise coming due under the lease. 15 Am J2d Con Apt § 27. A clause in a contract relieving a promisor of liability for nonperformance in the event of contingent developments rendering performance impossible. 17 Am J2d Contr § 404.

Ballentine's law dictionary. . 1998.

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  • escape clause — n: a clause in a contract that allows a party to avoid liability under the contract for specified reasons; esp: a provision in an insurance policy that denies coverage when other insurance covers the risk Merriam Webster’s Dictionary of Law.… …   Law dictionary

  • escape clause — ➔ clause * * * escape clause UK US noun [C] ► COMMERCE, LAW a statement in a contract that allows you to break all or part of the contract under particular conditions …   Financial and business terms

  • escape clause — ► NOUN ▪ a clause in a contract which specifies the conditions under which one party can be freed from an obligation …   English terms dictionary

  • escape-clause — index dispensation (exception) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • escape clause — escape′ clause n. bus a provision in a contract that enables a party to terminate contractual obligations in specified circumstances • Etymology: 1940–45 …   From formal English to slang

  • Escape clause — An escape clause is any clause, term or condition in a contract that allows a party to that contract to avoid having to perform the contract (also often referred to as a Natalie Clause).If an agreement was drawn up for the sale of a house, for… …   Wikipedia

  • Escape Clause — Infobox Television episode Title = Escape Clause Series = The Twilight Zone Caption = David Wayne in Escape Clause Season = 1 Episode = 6 Airdate = November 6, 1959 Production = 173 3603 Writer = Rod Sterling Director = Mitchell Leisen Guests =… …   Wikipedia

  • Escape Clause — Filmdaten Deutscher Titel Escape Clause – Tödliche Rache Originaltitel Escape Clause …   Deutsch Wikipedia

  • escape clause — UK / US noun [countable] Word forms escape clause : singular escape clause plural escape clauses legal a statement in a contract that allows you to avoid doing something that the contract is intended to make you do …   English dictionary

  • escape clause — a provision in a contract that enables a party to terminate contractual obligations in specified circumstances. [1940 45] * * * noun, pl ⋯ clauses [count] : a part of a contract that allows you to get out of the contract in a particular situation …   Useful english dictionary

  • Escape Clause (disambiguation) — Escape clause can have the following uses:*Escape clause (Law) a type of contract clause *Escape Clause an episode of The Twilight Zone *Escape Clause (That s So Raven episode) a That s So Raven episode. * a Tim Allen movie …   Wikipedia

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