Contract Glossary
Cure Period
Definition
A window of time after a breach or default during which the breaching party can fix the problem before the other party can terminate the contract or take legal action. It's a second chance built into the contract.
In Practice
Your lease says rent is due on the 1st and gives you a 10-day cure period. If you pay by the 10th, you're in the clear, no late fees, no default notice, no eviction proceedings. Without a cure period, the landlord could technically start the eviction process on the 2nd. Always negotiate for cure periods in important contracts.
Common in these contract types
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Frequently asked questions
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