Findings Of Fact Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Findings Of Fact, written in plain English, along with examples of how it is used.
What is Findings Of Fact?
(n) Findings Of Fact is the decision, opinion or observation arrived by a judge or jury on the issues related to the fact that are submitted for a decision of the court. The finding of facts ultimately influence the judgment.
History and Meaning of Escape Clause
The term "Escape Clause" has its origins in the world of business contracts. It is a provision within a contract that allows one party to be relieved of certain obligations if certain conditions are met. These conditions may be specific, such as a certain event occurring, or more general, such as changes in the market or other circumstances outside of the control of the parties involved. Essentially, an escape clause is a way to protect the parties involved from unforeseen circumstances that may make fulfilling the terms of a contract difficult or impossible.
Examples of Escape Clause
A musician may have an escape clause in their contract that allows them to cancel a concert if there is severe weather or other unforeseen circumstances that would make it impossible to perform.
A real estate contract may have an escape clause that allows the buyer to back out of the deal if certain conditions are not met, such as passing a home inspection.
A vendor may have an escape clause in their contract that allows them to opt out of a deal if the market conditions change in a way that would make fulfilling the original terms of the contract unfeasible.
A sports team may have an escape clause in a player's contract that allows them to let go of the player if their performance falls below certain standards.
Legal Terms Similar to Escape Clause
Force Majeure - This term refers to an unforeseeable event that makes it impossible for one party to fulfill a contract. It is often used in conjunction with escape clauses.
Rescission - This is a term used to describe the cancellation of a contract due to fraud, misrepresentation, or other factors that make the contract legally unenforceable.
Termination Clause - Much like an escape clause, a termination clause provides a way out of a contract under certain circumstances, but it may have more specific conditions than an escape clause.