Drop Dead Date Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Drop Dead Date, written in plain English, along with examples of how it is used.
What is Drop Dead Date?
n. The last date which an event must occur, otherwise consequences will immediate occur. The drop dead date is usually in a contract’s provision or set by a court order.
History and Meaning of Drop Dead Date
The term "drop dead date" is commonly used in legal contracts to refer to the final deadline or due date on which the agreed-upon action must take place. This date is usually explicitly stated within the contract and is typically non-negotiable. If the action does not occur by the drop dead date, the contract will either become void or trigger specific consequences for the parties involved. The concept of a drop dead date can also be applied outside of legal contexts in situations where a clear, final deadline must be met to avoid negative outcomes.
Examples of Drop Dead Date
- In a real estate contract, the buyer and seller may agree to a drop dead date by which the purchase must be completed, or else the contract will be terminated and any earnest money deposits will be forfeited.
- In a construction project, the contractor may be required to finish the work by a certain drop dead date, or else face penalties for each day beyond the deadline.
- In a government bid proposal, contractors may be given a drop dead date by which they must submit their proposals, or else their bids will be disqualified from consideration.
Legal Terms Similar to Drop Dead Date
- "Time is of the essence" - this clause in a contract emphasizes the importance of timely performance and indicates that delays or missed deadlines will result in significant consequences.
- "Statute of limitations" - this legal term refers to the period of time within which a lawsuit must be filed, after which the right to sue is lost.
- "Lapse date" - this term is often used in insurance policies to refer to the date after which coverage will expire if premium payments are not made.