| Commentary

11.2.2 Definition of ‘year’

| Commentary

11.2.2 Definition of ‘year’

Unlike ‘month’, which has a statutory definition, ‘year’ is not defined. Therefore, the meaning of ‘year’ should be set out in the agreement. For example, in an agreement there might be an expression such as ‘year of this agreement’. Does this mean a year from a specified date, the date of execution or the date on which the agreement commenced (that is, a date before the date of execution) or the period of 1 January to 31 December? To avoid any uncertainty, the expression ‘year of this agreement’ is sometimes defined in the contract.

Example of

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