👉 Non-irrevocable refers to a legal or financial commitment that is not subject to change by the party who originally made it. This means that once an original agreement has been reached, it cannot be altered or rescinded without the original parties' consent. For example, a contract between two parties may be considered non-irrevocable if neither of them can terminate the agreement before it is signed.
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What is the definition of Nonirrevocableness? 🙋
👉 Non-revocability in a legal context refers to the inability of an instrument or document to be revoked by another person. In other words, it means that once it is signed or executed, it cannot be altered or changed after its initial signing or execution. This concept is often used to describe something that remains the same as long as it is not modified or altered in any way. For example, a contract signed by both parties cannot be amended or revoked without their consent.
https://goldloadingpage.com/word-dictionary/nonirrevocableness
