What does onerous mean in a contract?

Onerous contract A contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it.

How do you use onerous in a sentence?

Onerous sentence example

1. His duties were thus rendered exceedingly onerous , and his labour became excessive.
2. In 1584, however, the city had to surrender on onerous terms to the prince of Parma.

Is onerous a legal term?

In legal usage, onerous describes a contract or lease that has more obligations than advantages. Onerous derives from Middle English, from Old French onereus, from Latin onerōsus, from onus “burden.” In English, an onus is a task or duty that is onerous, or very difficult.

What’s the definition for onerous?

Definition of onerous 1 : involving, imposing, or constituting a burden : troublesome an onerous task onerous regulations an onerous mortgage. 2 : having legal obligations that outweigh the advantages an onerous contract.

How do you determine if a contract is onerous?

These requirements specify that a contract is ‘onerous’ when the unavoidable costs of meeting the contractual obligations – i.e. the lower of the costs of fulfilling the contract and the costs of terminating it – outweigh the economic benefits.

What does onerous mean mean?

adjective. burdensome, oppressive, or troublesome; causing hardship: onerous duties. having or involving obligations or responsibilities, especially legal ones, that outweigh the advantages: an onerous agreement.

What is onerous title?

Title to the property acquired by giving valuable consideration is onerous title. Consideration can be by payment money, rendition of services, discharge of lien, or performance of conditions.

What is most likely the definition of onerous?

1 : involving, imposing, or constituting a burden : troublesome an onerous task onerous regulations an onerous mortgage. 2 : having legal obligations that outweigh the advantages an onerous contract.

Which set of words are closely related to the word onerous?

Some common synonyms of onerous are burdensome, exacting, and oppressive.

Is onerous contract legal?

Onerous contracts can occur when a company has a contract to supply a material which costs more to produce than actually determined by the provisions of the contract.

What is more onerous?

[more onerous; most onerous] formal. : difficult and unpleasant to do or deal with. an onerous chore/duty/task.

What is an onerous covenant?

IA 1986, s 178(3) defines onerous property as: any unprofitable contract, and. any other property of the company which is unsaleable or not readily saleable or is such that it may give rise to a liability to pay money or perform any other onerous act.

What does disclaimer of onerous property mean?

(1AA) Where any part of the property of the bankrupt consists of: (a) land of any tenure burdened with onerous covenants; or. (b) property (including land) that is unsaleable or is not readily saleable; subsection (1) applies.

What is an onerous property?

Explanation.—For the purposes of this section, the term “onerous property” means— (i) any unprofitable contract; and. (ii) any other property comprised in the estate of the bankrupt which is unsaleable or not readily saleable, or is such that it may give rise to a claim.