Legalese Elements Breakdown

Summary

The text explains legal terms in a contract, such as waiver, rights, and obligations. It clarifies that a sellers inaction or acceptance of late payments doesnt waive their rights or the buyers obligations. The seller can still declare a default if the buyer fails to meet the agreement terms.

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can you re-write the text in plain language?
Sure! Here's the text in plain language:
If the seller doesn't use their rights or accepts a late or incomplete payment, it doesn't mean they're giving up any rights or that the buyer is off the hook. The seller can still say the buyer has broken the agreement, now or in the future.