indivisible contract
Definition
Type of contract where obligations of the contracting parties are interdependent, and no party can demand performance from the other(s) unless it performs its own part or is ready and willing to do it. Construction contracts, for example, are usually indivisible: if the contract calls for the client to pay certain sums at certain stages of the contract, then the contractor may stop the work at any stage if not paid accordingly. Most lump sum payment contract are regarded indivisible. Also called entire contract.
indivisible contract is in the Agreements & Contracts, Corporate, Commercial, & General Law and Purchasing & Procurement subjects.
indivisible contract appears in the definitions of the following terms: partial performance and entire contract
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