Need assistance to under the contractual clause
N.J. MISHRA
(Querist) 20 March 2013
This query is : Resolved
RECEIVED AGREEMENT TO BE EXECUTED FROM ONE OF OUR VENDOR; HOWEVER, THE BELOW MENTIONED CLAUSE OF THE SAID AGREEMENT I AM FINDING IT DIFFICULT TO UNDERSTAND. PLEASE MEMBER KINDLY ASSIST ME IN UNDERSTANDING THE SAME.
31. Waiver
No delay or omission by either Party hereto to exercise any right or power hereunder shall impair such right or power or be construed to be a waiver thereof. A waiver by either of the Parties hereto of any of the covenants to be performed by the other or any breach thereof shall not be construed to be a waiver of any succeeding breach thereof or of any other covenant herein contained. All remedies provided for in this Agreement shall be cumulative and in addition to and not in lieu of any other remedies available to either Party at law, in equity or otherwise.
ajay sethi
(Expert) 20 March 2013
for instance if contract provides that project has to be completed in 12 months . if their is delay in construction merely because no objection is raised by vendor does not mean that vendor has waived his right to sue you or recover damages for delay in construction
Devajyoti Barman
(Expert) 20 March 2013
It has construed that mere silence is not be considered as agreeing something.
Devajyoti Barman
(Expert) 20 March 2013
It has construed that mere silence is not be considered as agreeing something.
Raj Kumar Makkad
(Expert) 20 March 2013
It also mentions that the other party shall not take shelter of the failure of other party to perform its part of the contract and each term shall be free and in addition to other and not in consequence of other.
N.J. MISHRA
(Querist) 21 March 2013
thanks a lot for kind co-operation.
Need one more favour, whether it will be ok for us to go with this clause.
Raj Kumar Makkad
(Expert) 21 March 2013
It depends upon you to decide whether the same favours you or not because the clauses is equally applicable at par with both parties so you are in a beter position to take final decision thereto.
