The purpose of this fact sheet is to describe some of the spider. species in Virginia that people commonly inquire about as being dangerous. This information may help. address a homeownerâs concern about personal safety and possibly eliminate a suspect spider as one of. the more medically dangerous species.
1 The second possibility is where the contract is silent as to whether the representations and warranties survive or expire upon closing.  The third situation is where the contract contains a discrete survival period during which the representations and warranties will continue to be binding on the party who made them.
What is the 'Grace Period'. A grace period is the provision in most loan and insurance contracts that allows payment to be received for a certain period of time after the actual due date. During this period, no late fees are charged, and the late payment does not result in default or cancellation of the loan. A typical grace period is 15 days. Next Up.