Test yourself

Read the clause and then choose the correct words from a list to complete the contract clause. TH S7
due; warranties; prejudice; equitable; remedy; adhere; notice; deemed; event;

Default Clause

In the (1 p.) that the Buyer fails to (1 p.) to any of the payment terms and conditions stipulated in this Contract of Sale or commits any breach of the representations, (1 p.) , or covenants contained herein, such action shall be (1 p.) a default under this Agreement. Upon the occurrence of any such default, the Seller shall provide the Buyer with written (1 p.) specifying the nature of the default and allowing a cure period of ten (10) business days from the date of notice receipt for the Buyer to (1 p.) the default.

Should the Buyer fail to rectify the default within the specified cure period, the Seller shall have the right to exercise any one or more of the following remedies: (a) terminate this Agreement forthwith without (1 p.) to any other right or remedy which may be available to the Seller under this Agreement or at law; (b) demand immediate payment of all outstanding amounts (1 p.) under this Agreement; (c) withhold further delivery of any goods pending under this Agreement; and (d) pursue any additional legal or (1 p.) remedies.