Contractual control definition
Contractual control means the right to direct the manner in which a party performs those contractual obligations related to the claim for damages.
Contractual control. . That means although the partnership is 50/50, the partnership agreements contain clauses that empower the selling partner, giving him/her managing authority over daily operations and, often, authority over major decisions as well. Where the selling physician contractually retains authority over both daily management and major matters, this is akin to 51%/49%. The key where the selling partner desires to retain legal control of the practice, is negotiating the degree or control. So, for example, giving them authority over only daily management. Or if they have control over major issues, as well, limiting this to only certain matters. In all cases, the physician might desire to negotiate their own security. This would mean, for example, having veto power over a decision by the senior partner to terminate their employment. Or, for example, having veto power over the incurrence of any major liability, particularly one which the partners will be required to personally guarantee on the
Examples of Contractual control in a sentence
Contractual control was deemed to have been attained in December 2016 and therefore both Hulian Xincai Information Technology Co. Ltd and Hulian Xincai Hangzhou Sport Culture Communication Ltd.