What does inures to the benefit of mean?

Inure has several legal meanings. It could mean to have a particular effect or result and is commonly used to indicate to whose benefit or advantage the particular effect has been done for. This means that the individual has essentially the same effect as a tenant for life.

What is the benefit of shall be binding upon and inure?

A typical successors and assigns clause simply states, “This agreement is binding upon, and inures to the benefit of, the parties and their respective successors and assigns.” The purpose of a successors clause is to bind a business’ successors or assigns to the terms of the agreement in the event of a transfer.

Shall be binding upon and inure meaning?

OK, here goes: inure (meaning “to take effect; to come into use”) is lame. You might know inure from “successors and assigns” provisions: This agreement is binding upon, and inures the benefit of, the parties and their respective permitted successors and assigns.

Is it enure or inure?

Enure is often written as inure, and an example of it is saying a new tax will ensure to the advantage of all the residents of Madison County. An inurement clause is a document that’s legal, such as a will or contract, and extends the document’s benefits past their signatories.

What does this mean shall inure to the benefit of and be?

This Agreement shall inure to the benefit of and be binding. This Agreement shall inure to the benefit of and be binding upon the Parties and their respective heirs, successors, representatives and assigns. This Agreement is deemed to be of a personal nature an… read more.

Who are the heirs, successors and assigns in this agreement?

Heirs, Successors and Assigns. Each and all of the covenants, terms, provisions and agreements herein contained shall be binding upon and inure to the benefit of the parties hereto and, to the extent permitted by this Agreement, their respective heirs, legal representatives, successors and assigns. Heirs, Successors and Assigns.

What does inure to benefit mean in property law?

Inure to Benefit. In property law, the phrase “inure to the benefit of the parties” may appear as part of the contract language. What this means, in simpler terms, is that the parties will somehow benefit from the transaction.

Who are the heirs, successors and assigns of Sui Generis?

Heirs, Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of Sui Generis, Borrower and their respective heirs, successors and assigns, except that Borrower may not assign or transfer any of its rights hereunder without the prior written consent of Sui Generis.

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