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LSDefine

Simple English definitions for legal terms

future covenant

Read a random definition: mutuality of obligation

A quick definition of future covenant:

A covenant is a formal agreement or promise between two parties, usually in a contract. It can be an absolute covenant, which has no conditions, or a conditional covenant, which is qualified by a condition. There are different types of covenants, such as affirmative covenants that obligate a party to do something, negative covenants that require a party to refrain from doing something, and future covenants that can only be breached upon interference with the possession of the grantee or the grantee's successors. Covenants can be created by the words of the parties or inferred from the whole agreement and the conduct of the parties. They can also be related to land, such as a covenant of quiet enjoyment, or to a business, such as a noncompetition covenant.

A more thorough explanation:

A future covenant is a type of covenant that can only be breached if there is interference with the possession of the grantee or the grantee's successors. This type of covenant includes the covenant for further assurances, the covenant for quiet enjoyment, and the covenant of warranty. The distinction between future and present covenants is important in determining when the statute of limitations begins to run.

Suppose John sells a piece of land to Jane and includes a covenant of warranty in the deed. This means that John promises to defend Jane against any lawful or reasonable claims of superior title by a third party and to indemnify Jane for any loss sustained by the claim. If a third party comes forward and claims ownership of the land, John is responsible for defending Jane and paying any damages. This is an example of a future covenant because it can only be breached if there is interference with Jane's possession of the land.

future consideration | future earnings

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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