1. A contract provision relieving a party of liability for failure to perform, as where a stated contingency does not occur. If such a clause allows the party to cancel the contract for no reason whatsoever, there really is no enforceable contract, for mutuality of obligation is lacking. 2. A clause in a proprietary lease of a tenant-stockholder that permits the tenant to surrender the stock and lease back to the cooperative association and thereby terminate continuing liability for payments due under the lease.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). escape clause. Retrieved September 20, 2026, from http://smartdefine.org/escape_clause/definitions/1153128 |
| Chicago | Barry Goldsmith. 2010. "escape clause" http://smartdefine.org/escape_clause/definitions/1153128 (accessed September 20, 2026). |
| Harvard | Barry Goldsmith 2010, escape clause, Smart Define, viewed 20 September, 2026, <http://smartdefine.org/escape_clause/definitions/1153128>. |
| MLA | Barry Goldsmith. "escape clause" 21 October 2010. Web. 20 September 2026. <http://smartdefine.org/escape_clause/definitions/1153128> |