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What (who) is Escape clause Trade Act of 1974 - definition
PORTION OF A CONTRACT WHICH SPECIFIES HOW A PARTY MAY BE PERMITTED TO AVOID FULFILLING ONE OR MORE TERMS
Exit clause; Walk away clause; Contract Escape clause; Termination Clause; Get-out clause; Satisfaction clause
Federal Trade Commission Act of 1914
ACT
FTC Act; Federal Trade Commission Act 1914; Federal Trade Commission Act
The Federal Trade Commission Act of 1914 was a United States federal law which established the Federal Trade Commission. The Act was signed into law by US President Woodrow Wilson in 1914 and outlaws unfair methods of competition and unfair acts or practices that affect commerce.
Escape clause
An escape clause is any clause, term, or condition in a contract that allows a party to that contract to avoid having to perform the contract.
escape clause
¦ noun a contract provision which specifies the conditions under which a party can be freed from an obligation.
Wikipedia
Escape clause
An escape clause is any clause, term, or condition in a contract that allows a party to that contract to avoid having to perform the contract.
If an agreement was drawn up for the sale of a house, for example, the purchaser could include some kind of escape clause in the contract, which will allow him to "escape" from the contract without being liable for breach of contract.
