Sure, the experience meant I couldn't work in my chosen profession or remotely similar ones for over a year without potentially putting myself in default of the contract.
In 2009-2010, Wyoming's new computer testing program failed and the state demanded that Pearson repay $9.5 million for "complete default of the contract". In 2010, Florida test scores were delayed by more than a month and Pearson agreed to pay nearly $15 million in fines and in 2011 writing exams delivered to Florida school districts without cover sheets exposed topics on the test in advance.
On February 2 , 2004 the government delivered notice to 407 ETR that they are considered to be in default of their contract because of 407 ETR's decision to raise toll rates without first obtaining provincial clearance.
KBC claimed that the WMATA was in technical default of a contract following the collapse of AIG, which had guaranteed the loan that KBC made to WMATA in 2002.
In October, Governor Rowland declared Envirotest in default of the $2.2 million contract, citing several problems, including the arrest of seven employees on bribery charges.
Upon execution of this Contract, Owner shall pay to Contractor $1000 as an advance on the Contract Price as a non-refundable deposit in the event this Contract is terminated for any other reason than the default by Contractor.
In case of a failure to perform such special contract, by the default of the party contracting to do the service, if the money is not due by the terms of the special agreement he is not entitled to recover for his labor, or for the materials furnished, unless the other party receives what has been done, or furnished, and upon the whole case derives a benefit from it.
Since the counterparty of the replacement contract could also default within the lifetime of an existing contract, ignoring the possibility of counterparty defaults of replacement contracts will either under or over estimate the cost of the risk.
He says Univision is in default of a five-year contract.
A bank can cope with isolated defaults of this kind.
There is a standard analysis of default rules in contract law, including those forms of contract law that fall under the label of employment law.
