MLchartDataset catalogue

Abatement clause

Term · Law · MLC-T-LAW-000265

A provision in a contract or will that specifies how certain obligations or distributions should be reduced if conditions change or funds are insufficient. In a will, it dictates which bequests are reduced first if the estate cannot cover all legacies. This clause prevents disputes over shortfalls.

Table 1. Record
IdentifierMLC-T-LAW-000265
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000265",
  "term": "Abatement clause",
  "field": "Law",
  "definition": "A provision in a contract or will that specifies how certain obligations or distributions should be reduced if conditions change or funds are insufficient. In a will, it dictates which bequests are reduced first if the estate cannot cover all legacies. This clause prevents disputes over shortfalls.",
  "url": "https://mlchart.com/terminology/law/abatement-clause/"
}

Record 24 of 5,441 in Law terminology (MLC-0107). Request the full dataset.