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LSDefine

Simple English definitions for legal terms

escalation clause

Read a random definition: assignable lease

A quick definition of escalation clause:

An escalation clause is a part of a contract that allows for the price to change based on certain conditions. For example, if taxes or operating costs increase, the contract price may also increase. It can also be used in divorce agreements to automatically increase alimony payments under certain circumstances. In the oil and gas industry, an escalation clause allows for the base price of gas to be adjusted as the market changes. This can be either an increase or a decrease in price.

A more thorough explanation:

An escalation clause is a provision in a contract that allows for the adjustment of the contract price based on changing market conditions. This can include factors such as taxes, operating costs, or changes in the cost of living.

  • A construction contract may include an escalation clause that allows for the price to increase if the cost of materials or labor increases.
  • A divorce agreement may include an escalation clause for alimony payments, which would increase if the obligor's salary increases.
  • An oil and gas contract may include an escalation clause that allows for the base price of gas to be adjusted as the market changes.

These examples illustrate how an escalation clause can provide flexibility in contracts and allow for adjustments to be made based on changing circumstances.

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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