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escape clause |
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escape clause A clause that allows one party or the other to cancel a contract without penalty upon the happening of certain described events or conditions.The most common ones in real estate are the ability to cancel a purchase contract if the buyer cannot secure acceptable financing or if the buyer cannot sell his or her own home. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The proposed automatic enrollment provisions come with escape clauses allowing workers to opt out of their 401(k) plans, but the legislation fails to address state-mandated household savings guidelines threatening individuals who accumulate modest sums. On Jacobsen's ideal platform, an absolute architectural morality prevails--there can be no mistakes and no excuses, no afterthoughts and no escape clauses, about the siting of the individual components of the scheme. Ironically, it doesn't meet any of the tests of the so-called Balanced Budget Amendment the administration is sponsoring as Proposition 58 - which may explain why that proposal contains more escape clauses than Britney Spears' wedding vows. |
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