Key Takeaways. A lapse occurs when the benefits and rights stated in a contract no longer remain active due to the contract holder failing to honor requirements and conditions set forth by a contract or agreement. A lapse can occur, for instance, due to inaction, the passage of time, or failure to pay what is due..
What is an example of effluxion of time?
For example, if a lease agreement is signed for one year, the effluxion of time would occur at the end of that year, and the lease would expire without any further action needed..
What is the afflux of time?
effluxion of time (i-flək-shən) (17c) The expiration of a lease term resulting from the passage of time rather than from a specific action or event. — Also termed efflux of time. Evidently effluxion of time is the raging-popinjay alternative to referring to the end of a contract's term.Jan 26, 2020.
What is the lapse of time in a contract?
Discharge of contract by lapse of time is a legal concept that stipulates that a contract automatically becomes null and void once the time specified in the contract has elapsed. In other words, the contract is discharged without any need for formal termination or cancellation..
Contract drafters sometimes use “expiration” and “termination” interchangeably. Some drafters prefer to use “expiration” to refer to a natural ending of the contract and “termination” to refer to a premature ending of the contract.
Lapse is the termination of a right, interest, duty or obligation as a result of the passage of time, or failure of a condition, or a change in circumstance. Lapse because of the passage of time. An example of lapse because of the passage of time is that a party fails to accept an offer in time.
Lapse of time operates to terminate an offer in which the intended recipient does not respond to it within the time stipulated therein or within a reasonable time. An offer to contract cannot remain open indefinitely, so it is usually only valid for a prescribed period of time.
Effluxion of time is the expiration of a lease term due to a natural passing of time rather than from a specific action or event. This phrase can also be used to indicate the conclusion or expiration of an agreement in simple writing when the conclusion or expiration occurs through a natural course of events.
What does effluxion mean?
Effluxion means the passing of time, in particular when leading to the expiration of an agreement or contract
What does effluxion of time mean in law?
Law dictionary effluxion of time
The normal expiration of a lease due to the passage of time, rather than due to a specific event that might cause the lease to end, such as destruction of the building
Nolo’s Plain-English Law Dictionary
What if a contract ended by the effluxion of time?
If the contract ended by the effluxion of time then there wasn’t a termination at the initiative of the employer because it was something that had been agreed upon when the contract was formed
And if there wasn’t a termination at the initiative of the employer then the employee wasn’t dismissed, unfairly or otherwise
effluxion of time (i- flək -shən) (17c) The expiration of a lease term resulting from the passage of time rather than from a specific action or event. — Also termed efflux of time. Evidently effluxion of time is the raging-popinjay alternative to referring to the end of a contract’s term.
When this phrase is used in leases, conveyances, and other like deeds, or in agreementsexpressed in simple writing, it indicates the conclusion or expiration of an agreed termof years specified in the deed or writing, such conclusion or expiration arising in thenatural course of events, in contradistinction to the determination of the term by theacts of the parties or by some unexpected or unusual incident or other sudden event.
effluxion of time The normal expiration of a lease due to the passage of time, rather than due to a specific event that might cause the lease to end, such as destruction of the building.the effluxion of time. “Time” in this context means either that the fixed time for which the contract was entered into has elapsed, or that the particular task or reason in respect of which the employee was employed has been completed. This is the typical “part-time employee” or “fixed term contract” situation.
The major benefit of fixed-term contracts is that, where legitimately used, when the contractually agreed fixed term expiry date or event which has been agreed upon up-front by the parties arrives, the contract expires by effluxion of time.With some exceptions, the Labour Relations Act, 66 of 1995 (LRA), recognises this as a mutually agreed upon termination of employment, or the termination of the employee’s employment with the...
Contract law effluxion of time
Theorem in fluid dynamics
Torricelli's law, also known as Torricelli's theorem, is a theorem in fluid dynamics relating the speed of fluid flowing from an orifice to the height of fluid above the opening. The law states that the speed mwe-math-element> of efflux of a fluid through a sharp-edged hole at the bottom of the tank filled to a depth mwe-math-element> is the same as the speed that a body would acquire in falling freely from a height mwe-math-element>, i.e. mwe-math-element>, where mwe-math-element> is the acceleration due to gravity. This expression comes from equating the kinetic energy gained, mwe-math-element>, with the potential energy lost, mwe-math-element>, and solving for mwe-math-element>. The law was discovered by the Italian scientist Evangelista Torricelli, in 1643. It was later shown to be a particular case of Bernoulli's principle.
