Maryland Code, COMMERCIAL LAW 22-616
Terms Used In Maryland Code, COMMERCIAL LAW 22-616
- Contract: A legal written agreement that becomes binding when signed.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(b) The following survive termination:
(1) A right based on previous breach or performance of the contract;
(2) An obligation of confidentiality, nondisclosure, or noncompetition to the extent enforceable under other law;
(3) A contractual use term applicable to any licensed copy or information received from the other party, or copies made of it, which are not returned or returnable to the other party;
(4) An obligation to deliver, or dispose of information, materials, documentation, copies, records, or the like to the other party, an obligation to destroy copies, or a right to obtain information from an escrow agent;
(5) A choice of law or forum;
(6) An obligation to arbitrate or otherwise resolve disputes by alternative dispute resolution procedures;
(7) A term limiting the time for commencing an action or for giving notice;
(8) An indemnity term or a right related to a claim of a type described in § 22-805(d)(1) of this title;
(9) A limitation of remedy or modification or disclaimer of warranty;
(10) An obligation to provide an accounting and make any payment due under the accounting; and
(11) Any term that the agreement provides will survive.