divisible contract
Definition
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.
divisible contract is in the Agreements & Contracts, Corporate, Commercial, & General Law and Purchasing & Procurement subjects.
divisible contract appears in the definitions of the following terms: partial performance and severable contract
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