severable contract


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Related to severable contract: Divisible contract
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Noun1.severable contract - a contract which, in the event of a breach by one of the parties, can be considered as several independent agreements expressed in a single instrument
contract - a binding agreement between two or more persons that is enforceable by law
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4 The Tenderer Should Note That As Contract Shall Be Entered Into On Severable Contract Basis Only And Therefore The Po Will Also Be Issued On Severable Contract Basis With Delivery Of Specific Units Of Material Shall Be Completed Within Each Month Or Within Specified Period Duly Taking Into Account Our Delivery Requirement As Mentioned In Para 1 Of Electronic Tender Or As Above.
However, it should not be forgotten that the dispute resolutions operate as a separate, severable contract, and need to be as clear and workable as the rest of the contract.
With contracts that are nonseverable, and severable contracts when amounts are due before the performance is complete, the right to income is fixed no later than when payment is due, the IRS asserts.