Kickout Clause Law and Legal Definition
Kickout clause refers to a contractual provision that allows a party to end or modify the contract if a specified event occurs. Under a kickout clause, a company could refuse to sell a land if it were unable to complete its acquisitions of the new headquarters. It is also a provision in a sales contract that allows the seller to void the agreement if a better offer is received before the sale is closed. The kick-out clause is a compromise for both buyer and seller, and has become an acceptable practice in the real estate arena.
