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<blockquote data-quote="kjdavies" data-source="post: 8891209" data-attributes="member: 51378">Does 'irrevocable' mean 'cannot be terminated'? Or does it mean 'committed until terminated'?The reason I ask, I understand there are events that can terminate an irrevocable contract. For instance, if we had an irrevocable contract: I pay you to paint my house by the end of January. (not likely be irrevocable really but a simple example)I can see some reasons for termination, even of an irrevocable agreement.<ul>
<li data-xf-list-type="ul">Completion. You painted my house. I paid you. We all did as we said, contract's done. Terminated.</li>
<li data-xf-list-type="ul">Breach. You take off to Hawai'i for three weeks, get back the first week in February. You failed your commitment, you're in breach, surely I'm not still on the hook to pay you for something you didn't do. You might even have to pay a penalty (so I can hire another painter to fix what you did) or possibly damages (the reason we had an irrevocable contract was because I had a contract to sell on February 1 and painting the house was a condition of that contract... which means I've lost money because you wanted to work on your tan).</li>
<li data-xf-list-type="ul">Impossibility. My house burned down (let's say via act of god or act of war, both of which might be 'nobody's fault' and excused -- no breach, the contract just can't be completed).</li>
<li data-xf-list-type="ul">Death. You died. Or do I go after your heirs to finish the job?</li>
</ul>Or do I misunderstand 'irrevocable' as meaning just that the members of the agreement cannot withdraw?</blockquote>

[QUOTE="kjdavies, post: 8891209, member: 51378"] Does 'irrevocable' mean 'cannot be terminated'? Or does it mean 'committed until terminated'? The reason I ask, I understand there are events that can terminate an irrevocable contract. For instance, if we had an irrevocable contract: I pay you to paint my house by the end of January. (not likely be irrevocable really but a simple example) I can see some reasons for termination, even of an irrevocable agreement. [LIST] [*]Completion. You painted my house. I paid you. We all did as we said, contract's done. Terminated. [*]Breach. You take off to Hawai'i for three weeks, get back the first week in February. You failed your commitment, you're in breach, surely I'm not still on the hook to pay you for something you didn't do. You might even have to pay a penalty (so I can hire another painter to fix what you did) or possibly damages (the reason we had an irrevocable contract was because I had a contract to sell on February 1 and painting the house was a condition of that contract... which means I've lost money because you wanted to work on your tan). [*]Impossibility. My house burned down (let's say via act of god or act of war, both of which might be 'nobody's fault' and excused -- no breach, the contract just can't be completed). [*]Death. You died. Or do I go after your heirs to finish the job? [/LIST] Or do I misunderstand 'irrevocable' as meaning just that the members of the agreement cannot withdraw? [/QUOTE]

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