Wednesday, July 22, 2009
May contracts last indefinitely in California?
Assuming that the parties are either entities that may exist "into perpetuity" or may assign their interests and assuming that there is no termination date, no termination conditions, or termination conditions that never occur, technically such an agreement could exist into perpetuity. Under California law, a contract may, by its express terms, provide for a term of duration of indefinite length and without specific limitation, tied not to the calendar but to the conduct of the contracting parties.
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