Full question:
How does one calculate a time period contained in a contract, for instance a two year time period when the effective date of the contract is March 5, 2007? Does the two year time period end on March 5, 2009 at midnight or does it extend to March 6, 2009?
- Category: Contracts
- Date:
- State: New York
Answer:
To determine the end date of a two-year contract period starting on March 5, 2007, you typically count two years from the effective date. Therefore, the two-year period would end on March 5, 2009, at midnight. However, some contracts may specify different terms regarding the end date.
In cases where contract terms are unclear, courts may consider evidence outside the contract to clarify the parties' intent, provided it does not contradict the contract itself. The hierarchy of evidence used includes:
- Terms from discussions and writings exchanged by the parties that do not contradict the contract;
- Terms implied by the parties' current and past conduct;
- Terms implied by industry customs and practices;
- Terms implied by applicable law, such as damages for breach or liability for negligence.
For example, some contracts define a year as a period from the contract start date to the same date in the following year. Others may specify that the first contract year starts at a particular time and ends at a specific time on the following date. Always refer to the specific language in the contract for precise definitions.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.