Void Contracts Sample Clauses

Void Contracts. If a Player Contract fails to take effect or becomes void as a result of a Commissioner disapproval, the player’s failure to pass a physical examination conducted pursuant to Exhibit 6 to such Contract, or the rescission of a trade conducted pursuant to Article VII, Section 8(e), then, in each such case: (a) the Team shall continue to possess such rights with respect to the player as the Team possessed at the time of the execution of the Contract, including, without limitation, any such rights that the Team possessed pursuant to Article VII, Section 6(b), Article X, and Article XI; (b) any Required Tender or Qualifying Offer that was outstanding at the time the Contract was executed shall continue in effect as if the Contract had not been executed (including if the original deadline for accepting the Required Tender or Qualifying Offer expired following the execution of the Contract), but for no fewer than six (6) business days following the Commissioner’s disapproval, the Team’s issuance of notice to the player that he did not pass the physical examination, or the rescission of such trade, as the case may be; and (c) in the case of a player who does not pass a physical examination pursuant to Exhibit 6: (i) the player shall not be permitted to accept such Required Tender or Qualifying Offer for a period of two (2) business days following his receipt of notice from the Team that he did not pass his physical examination, during which period the Team may elect to withdraw the Required Tender or Qualifying Offer, which shall have the consequences described in Article X, Section 4 or Article XI, Section 4, as the case may be; and (ii) if the Required Tender or Qualifying Offer is not withdrawn by the Team during this period, the Required Tender or Qualifying Offer shall thereafter be deemed amended so as to eliminate any Exhibit 6 that may be contained therein.
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Void Contracts. Department may void this Contract upon determination that the award was obtained fraudulently or was otherwise illegal or invalid from its inception.
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Void Contracts. County may void this Contract upon determination that the award was obtained fraudulently or was otherwise illegal or invalid from its inception.
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Void Contracts. 1. A contract can become void if in the future anything happens which makes it void. 2. If in a voidable contract, the other party (who’s comment is not free) repudiates the contract. 3. A contingent contract to do or not to do something on the happening of an event will become void if that event becomes impossible.
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Void Contracts. A void contract is not a contract at all Its an agreement without legal effect Usually for a minor for supply of goods other than necessity Where the law allows one of the parties to withdraw if they wish Remains valid until/unless innocent party chooses to terminate it Usually for a minor Or if induced by undue influence/mispresentation
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Void Contracts. Clause 24: Agreements are void of considerations and objects unlawful in part.
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Void Contracts. This is a contract which does not include rights and obligations; however, the full consequences of illegality are not present. Examples of these contracts include: a. Contract declared void by statute: an example of this is wagering contracts. According to the Gaming Act 1845, Section 18 “All contracts or agreements, whether by parole or in writing, by way of gaming or wagering shall be null and void; and no suit shall be brought or maintained in any court of law and equity for recovering any sum of money or valuable thing alleged to be won upon any wager or which shall have been deposited in the hands of any person to bid the event to which any wager shall have been made”. In such case, the loser cannot be compelled to pay and a stakeholder cannot be forced to surrender any money left in his hands. The Act also prohibits agents from recovering money or commission paid out or earned by them on behalf of a principal. b. Contracts void at Common law: under this we have: 1. Contracts in restraint of trade: All contracts in restraint of trade are contrary to public policy under the common law. The common law tradition gave protection to trade freely with goods, money and labour. Any restriction to these is prima facie void. Nonetheless, if the restrictions are seen to be reasonable, then such can still hold despite the fact that the contract is void. To assess the reasonableness of the contract, the courts examine the equality of the bargaining power between the parties, the extent of the interest being restricted and the extent of possible injury to the public interest. These restraint clauses appear in three kinds of contract: (i) contract between the seller of a business and the buyer; where the buyer will seek to prevent the seller from setting up a business again, nearby, that will compete with the business he bought from him so as not to attract his old customers. See Xxxxxxxxxx v Xxxxx Xxxxxxxxxx. (ii) Contracts between employers and their employees so as to restrain their servants from working for their competitors and taking their trade secrets to them. It can also be in the setting up business to compete with his employer and otherwise acting to the disadvantage of the employers. However, the issues concerning the duration of the restraint, area to be affected in terms of disctance and material are important but the nature of the work carried out by the employee concerned must also be put into consideration. See Xxxxxx v Xxxxxx (1912); the courts he...
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Void Contracts. [Chapter # 2] Sales of Goods Act, 1930 □
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Related to Void Contracts

  • The Contracts (i) will be sold by broker-dealers, or their registered representatives, who are registered with the Securities and Exchange Commission ("SEC") under the Securities and Exchange Act of 1934, as amended (the "1934 Act") and who are members in good standing of the National Association of Securities Dealers, Inc. (the "NASD"); (ii) will be issued and sold in compliance in all material respects with all applicable federal and state laws; and (iii) will be sold in compliance in all material respects with state insurance suitability requirements and NASD suitability guidelines.

  • Contracts 3(n) of the Disclosure Schedule lists the following written agreements, or material oral agreements that would be reasonably considered to exist that were entered into and known by the Company, to which the Company or its Subsidiaries is a party: (i) any agreement for the lease of personal or real property to or from any Person providing for lease payments in excess of $1,000,000 per annum; (ii) any agreement for the purchase of products or services (in each case, other than agreements evidenced by purchase orders), under which the undelivered balance of such products and services has a selling price in excess of $2,500,000; (iii) any agreement for the sale of products or services (in each case, other than agreements evidenced by purchase orders), under which the undelivered balance of such products or services has a sales price in excess of $2,500,000; (iv) any agreement concerning a partnership or joint venture; (v) any agreement under which it has created, incurred, assumed or guaranteed any indebtedness for borrowed money in excess of $1,000,000 or any capitalized lease obligation, in excess of $250,000 or under which it has imposed a Security Interest on any of its assets, tangible or intangible; (vi) any non-competition agreement which materially restricts the ability of the Company or any of its Subsidiaries to freely conduct its business; (vii) any agreement with any of the Sellers and their Affiliates which will survive the Closing, the default of which would result in a Material Adverse Effect; (viii) any collective bargaining agreement; (ix) any agreement for employment on a full-time, part-time, consulting or other basis with respect to any individual who received total compensation in 2002 in excess of $250,000 or who has an annual base compensation for 2003 in excess of $250,000, or any agreement providing severance benefits to any such person in excess of $250,000; (x) any agreement under which it has advanced or loaned any amount to any of its directors, officers, managers and Employees outside the Ordinary Course of Business; (xi) any other agreement, the default of which would result in a Material Adverse Effect; or (xii) any agreement regulating or controlling or otherwise affecting the voting or disposition of any capital stock or other proprietary interest of the Company or any of its Subsidiaries and any shareholder agreement or agreement relating to the issuance of any securities of the Company or any of its Subsidiaries or the granting of any registration rights with respect thereto and which agreement does not terminate at or prior to Closing. The Company has made available to the Buyer a correct and complete copy of each written agreement or a summary of each material oral agreement listed in §3(n) of the Disclosure Schedule. Each such agreement is a valid and binding agreement of the Company or one of its Subsidiaries, as the case may be, and is in full force and effect and the Company has not received any notice that any such agreement is not a valid and binding agreement of each other party thereto. Neither the Company nor any of its Subsidiaries, and the Company has not received any notice that any other Person party thereto, is in default under any such agreements, and no event has occurred, or, to the Knowledge of the Company, is alleged to have occurred, which constitutes or with lapse of time or giving of notice or both, would constitute a default under any such agreement, except, in each case, for such defaults which would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

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