Sentences with phrase «party lives up to their obligations»
If the parties live up to their obligations (which is usually the case), there are no appeals.
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Counterparty risk is the risk to each party of a contract that the counterparty will not live up to its contractual obligations.
Eli Lederman, a partner at Lenczner Slaght Royce Smith Griffin LLP, says a recent Court of Appeal decision in Ontario adds to a growing trend that suggests trial judges may have greater freedom to determine whether parties are living up to their contractual obligations.
When one party fails to live up to their obligations, it becomes necessary to enforce the agreement.