Provision Meaning Legal Term
In a legal document, a provision is usually a special section that describes or specifies an action or condition. It may contain words like “shall” or “should not” (although this is not a requirement). But here`s the catch. Relevant information is not always fully included in the “determination” sentences. For example, there could be an introductory section describing the different players. It may or may not be a substantive provision according to a legal definition, but it could define whether a provision is applicable to a particular party. Observing real examples of determinations is one of the best ways to better understand how they are formulated. Here is an example of a provision contained in Montana state law: In his view, Rio Tinto did not address this comprehensive sanctions provision against Iran. Tax evasion carries a maximum penalty of five years, so it is likely that Grimm will be covered by the provision. Code du Mont. Anno., § 17-1-502: “Assigned Revenue Provision” means an administrative or legislative measure that allocates revenue from a tax, royalty, assessment or other source to an account of the Special State Revenue Fund as described in 17-2-102 or to a local government. The provisions generally require one or all of the parties involved to take action within a certain period of time or before a specific date. They can be found in most loan documents, in the laws of a state or country, and in contracts.
It is also common to follow the fine print that is provided after the purchase of certain financial securities. To avoid this, the lawyers included a provision in the delivery date clause that provided that “if the supplier misses a delivery date twice in a row at any given time, the contract will be terminated without justification or notice to the company” (in this case, the construction company). By including this provision, the company can protect itself against recurring delivery delays that could affect the outcome of its project. Here is a business example of providing a contract. These are words that are often used in combination with deployment. DISPOSITION, COM. Goods that a draughtsman hands over to a cartoonist; For example, by bank transfer or if the beneficiary is indebted to the subscriber at the maturity of the bill of exchange, it is said that provisions have been made. Acceptance always implies a benefit. See Art. Comm. Code.
115, 116, 117. Confusion about apparent vagueness, because the definition appears to apply to contradictory terms, may be due to an overly precise search for a precise literal legal definition. The explanation for the dichotomy might be more obvious by taking a step back and looking at a broader definition. Here is an example of a state (Montana) law that defines a specific provision: For a task of identifying all the “provisions” applicable to a case, the useful meaning would be all sections of the document relevant to the case. Legal provisions are usually contained in a contract or other type of legal arrangement to protect the interests of the parties involved. Read below to learn how regulations work in the context of the law and see relevant examples. Be aware of the need for fireplaces, windows and screened doors, and food storage arrangements. It is not so easy to distinguish between a clause and a provision of a legal document. Legal experts are trained to understand this, but to the untrained eye, provisions can look like clauses and vice versa. Nevertheless, the provisions set out in a contract (whether written or oral) are the guideline in some scenarios. A provision describes what would or would not happen in different situations that may or may not occur during the term of the contract. In the legal context, a provision is a provision contained in a particular legal document or statute.
This can also be called a clause or a contractual clause. In accounting, however, provisions refer to all profits that are used for a specific purpose or expense. Of course, Mr. Blanchard had his son and his son`s widow in mind when he made this arrangement. There was a provision in the Union Conscription Act of 1863 that allowed wealthy men to pay $300 to buy their exit from service. Given the reduction in voting rights of employee and investor shares, it is possible that these voting rights provisions could have a negative impact on the closing price of these shares. This provision provides first-time offenders with what is called pre-trial intervention. Solutions include improving access to technology for students, leveraging low-tech community efforts, tutoring, and special offers for younger learners. These provisions are contained in the main clauses or sub-clauses of the contract and are usually very specific.
For example, the provision of an employment contract could stipulate that in the event that the employee misses three (3) consecutive working days without sufficient justification, the contract is unilaterally terminated and there is no possibility of compensation on behalf of the employee. This type of provision is established in order to establish specific rules for a particular clause of the contract. Deployment is a term that has different meanings. In the legal context, it can be a clause in a law, contract or other legal document. It can also be a requirement or qualification that has been made before. So I would say the circumstances that must occur. It depends, of course, on the specific case. **Think about the time of the case, because because of this provision, only certain provisions apply after a certain date: Definition: A provision is a legal provision embedded in a contract.
In other words, they are legal parameters contained in an agreement. It would strengthen data protection rules, provide for tougher sanctions and possibly create a new enforcement authority. Domestic violence awareness groups rejected the provision, saying it would discourage victims from filing complaints. Assembly Bill 3216 also contains provisions that allow laid-off workers to return to work, even if an employer or business changes ownership. If there are provisions for changes in your digital marketing strategy, you can adapt to any situation. In the event that one of the parties involved in a legal agreement does not comply with a provision, this is called a breach of contract. Once this happens, the culprit must remedy the situation, which often happens by offering compensation. For example, bonds often have a purchase clause that sets the date after which the company can withdraw the bond. Another type of determination is the determination of extinction. This is usually included in some laws and results in an automatic repeal process after a certain date if the law has not been reinstated by a legislator. The meaning of the term “determination” in this case is somewhat determined by the context.
If it were a matter of legal consideration, you would want the exact legal definition. If you are asked in a real context to identify all the provisions applicable to a particular case, the meaning may be broader (or better understood as broader). This would provide supplies for the Levites as well as five men from the tribes. When he had a supply of provisions, he always pursued the goats as usual, but only for his personal satisfaction. A provision is something that is provided for in the document. “Disposition” is defined as making plans to deal with a possible event in the future or in a formal context such as a law or agreement in order to do something happen or exist. This something can refer to anything – a certain action that must or must not occur, a condition, etc. “Whether it happens” in the sense of the described state (specified to occur or not to occur) means to become reality as indicated. Home » Accounting Dictionary » What is a provision?. It was also planned that little girls from the age of ten would participate and learn to sew. It`s both.
The definition you found could be changed. A construction company has a regular supply contract with a plastic pipe manufacturer. In order to get a low price, the construction company decided to give this supplier an exclusive 1-year contract for all the water pipes needed for the building they are currently working on. DISPOSITION, French law. An allowance granted by a judge to a party for its maintenance; which must be paid before a final judgment is rendered. In civil proceedings, for example, it is an allowance for a woman separated from her husband. Dikt. of Jurisp. H.T. The contract contained many different clauses in terms of price, delivery dates and quality conditions and the construction company wanted its lawyers to draft a hermetic contract with no room for abuse or negligence on the part of the supplier, as there is an exclusivity clause that can have a negative impact if the company is not able to deliver the goods on time.