Divisible contract

Divisible contract

Type of contract in which each party's obligations are independent of those of the other, and each party can demand performance from the other without performing its own part. Contracts of employment, for example, are usually divisible: the employee must work even if the salary is not paid on time. A contract, however, does not become divisible simply because it has to be completed in parts or stages. See also severable contract.

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Part of Speech: noun
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Industry/Domain: Law
Category: Contracts
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Related terms

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