What is the principle of non-derogation of contracts?

The principle of non-derogation of contracts is a fundamental principle in Michigan contract law. This principle states that all parties involved in a contract must adhere to the terms of the agreement and that none of the parties can alter or diminish the contract’s terms after it has been agreed to. This is important to ensure that all parties are treated fairly and that the contract is binding. In Michigan, the principle of non-derogation of contracts applies to all types of contracts. This means that, even after a contract has been agreed to, no party can attempt to alter the terms or modify them without the express permission of all the other parties. Further, without the express permission of all the parties, no party can attempt to modify the contract’s terms in a manner that would take away rights or benefits of any other party involved in the agreement. The principle of non-derogation of contracts helps to ensure that all parties are held to the same standards that were initially agreed to. This helps protect the parties involved in a contract and prevents one party from unfairly attempting to change the agreement after it has been made. It is important for parties to review any contract carefully to ensure that their rights are not violated and that the terms of the agreement are fair to all the parties before signing.

Related FAQs

What is a performance bond?
What is a contract of indemnification?
What are the legal remedies for a breach of contract?
What is the effect of an ambiguity in a contract?
What is the implied covenant of quiet enjoyment?
What is a contract of service?
What is a severability clause?
What is the doctrine of good faith and fair dealing?
What is the principle of non-derogation of contracts?
What is an assignment of a contract?

What is the principle of non-derogation of contracts?

Related FAQs

Related Blog Posts