ipso facto clause

ipso facto clause
ipso facto clause n: a clause in an agreement stipulating the consequences (as termination of a lease or acceleration of a payment) of the insolvency of one of the parties – called also bankruptcy clause, ipso facto bankruptcy clause;
◇ An ipso facto clause is invalid under the Bankruptcy Code because a trustee is not bound by any provision or applicable law that is conditioned on the debtor's insolvency.

Merriam-Webster’s Dictionary of Law. . 1996.

ipso facto clause
USA
ipso facto clause, Also known as an ipso facto provision or bankruptcy clause.
A provision in an agreement which permits its termination due to the bankruptcy, insolvency or financial condition of a party. The Bankruptcy Code prohibits enforcement of such provisions in executory contracts and unexpired leases of the debtor (§ 365(e)(1), Bankruptcy Code).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • ipso facto clause — An ipso facto clause is a contractual term that generally allows a creditor to terminate a contract or a supply of service if an individual enters into proceedings under an insolvency statute. (Dictionary of Canadian Bankruptcy Terms) United… …   Glossary of Bankruptcy

  • ipso facto provision — USA ipso facto clause, Also known as an ipso facto provision or bankruptcy clause. A provision in an agreement which permits its termination due to the bankruptcy, insolvency or financial condition of a party. The Bankruptcy Code prohibits… …   Law dictionary

  • bankruptcy clause — n: ipso facto clause Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. bankruptcy clause …   Law dictionary

  • Martens Clause — The Martens Clause was introduced into the preamble to the 1899 Hague Convention II – Laws and Customs of War on Land.[1] The clause took its name from a declaration read by Fyodor Fyodorovich Martens,[2] the Russian delegate at the Hague Peace… …   Wikipedia

  • Bankruptcy in Canada — The procedures and legal consequences of consumer bankruptcy in Canada are governed by Canadian federal legislation.OverviewConsumer bankruptcy is a legislative procedure under Bankruptcy and Insolvency Act ( the BIA ) *(1) complemented by… …   Wikipedia

  • Consumer bankruptcy in Canada — See also: Insolvency law of Canada Consumer bankruptcy in Canada is governed by the Bankruptcy and Insolvency Act ( BIA ). [1] The legislation is complemented by regulations, as well as directives from the Office of the Superintendent of… …   Wikipedia

  • international relations — a branch of political science dealing with the relations between nations. [1970 75] * * * Study of the relations of states with each other and with international organizations and certain subnational entities (e.g., bureaucracies and political… …   Universalium

  • Dispensation — • An act whereby in a particular case a lawful superior grants relaxation from an existing law Catholic Encyclopedia. Kevin Knight. 2006. Dispensation     Dispensation      …   Catholic encyclopedia

  • Index Librorum Prohibitorum — Title page of Index Librorum Prohibitorum (Venice 1564). The Index Librorum Prohibitorum (English: List of Prohibited Books) was a list of publications prohibited by the Catholic Church. A first version (the Pauline Index) was promulgated by Pope …   Wikipedia

  • LOGIQUES NON CLASSIQUES — La logique formelle «classique» (cf. histoire de la LOGIQUE, LOGIQUE MATHÉMATIQUE, théorie de la DÉMONSTRATION) est une théorie de l’inférence valide qui ne prend pas en considération le contenu sémantique de l’argument. Elle est une logique… …   Encyclopédie Universelle

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”