INTRODUCTION A Shareholders’ Agreement is an agreement amongst the shareholders of a company. When a company is created‚ its founding shareholders determine how a company will be owned and managed. The Shareholders’ Agreement establishes rules to govern the relationship between two or more owners of a company. Without a shareholders’ agreement in place‚ the rules that apply are in the applicable corporate statute. The shareholders’ agreement creates an overlay that addresses issues created or left
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------------------------------------------------- REPURCHASE AGREEMENT (“REPO”) / RESERVE REPO 1. Definition A REPO is a money market transaction wherein securities are sold at a particular price by one party (REPO Seller) to the other (REPO Buyer) with a commitment on the REPO Seller’s part to repurchase the equivalent securities from the REPO Buyer on a certain date and at a certain price‚ both such date and price being fixed as part of the transaction. | A Reserve REPO is a money market
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binding agreement or relationship that exists between two or more parties to do‚ or abstain from performing certain acts. A contract can also be defined as a legally binding exchange of promises between two or more parties that the law will enforce. For a contract to be formed an offer made must be backed with an acceptance of which there must be consideration. Both parties involved must intend to create legal relation on a lawful matter which must be entered into freely and should be possible to perform
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Team Project Contract-Lease Assignment This Residential Lease Agreement (hereinafter “Lease”) is entered into this the 10-01-11‚ by and between the Lessor: George Murphy‚ (hereinafter referred to as “Landlord”)‚ and the Lessee(s): Benjamin Potter for the Potter Corporation. All Lessees (hereinafter referred to collectively as “Tenant”)‚ are jointly‚ severally and individually bound by‚ and liable under‚ the terms and conditions of this Lease. 1. GRANT OF LEASE: Landlord does hereby
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ASPECTS OF BUSINESS LESSON 10: VOID AGREEMENTS Learning Outcomes After today’s class you should be able to answer the following questions; • • • The agreements expressly declared to be void The uncertain agreements The wagering agreements have not been discussed in the preceding chapter. Illegal agreements are also ‘unlawful agreements’ as they are expressly declared void by the Contract Act. It may be recalled that in the case of illegal agreements‚ transactions collateral to them are
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An offset agreement is a stipulation made between a foreign supplier and a company which requires the supplier to purchase a certain amount of goods from that country in exchange for a contract. Offset agreements can be direct or indirect‚ depending on what raw materials the country may have. These agreements are often required in order to award a foreign contract to a large company producing valuable goods. A direct offset agreement means that the supplier has agreed to buy something from the
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Case Study #3: Distribution Agreement Shed some light Raynonplus is a small‚ family-owned eyewear business located in Ottawa‚ Ontario‚ Canada. Started by Pierre Dupuis in 1952 under the name of Visionplus‚ the company has been exclusively owned and operated by the Dupuis family for over 50 years. Currently‚ the business—a sole proprietorship—is owned and managed by Gerald Dupuis‚ grandson of the original entrepreneur. The Dupuis’ changed the business name in 1957 to capitalize on a trend
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Prenuptial Agreements The Uniform Premarital Agreement Act is a regulation that allows the parties of a premarital contract to choose the states jurisdiction under which their contract will fall. A couple can choose any state in which one of the parties live or plans to live or the state in which the couple will be married. Because this act has not been passed in all states‚ parties to a prenuptial contract are also limited to choosing only the states that have passed the Uniform Premarital Agreement
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Advanced Search Agreements What’s an agreement? Agreements set out the conditions of employment between: an employee or group of employees their employer. From 1 January 2010‚ only enterprise agreements can be made between employees and employers. Other types of agreements made previously under the Workplace Relations Act 1996 cover the conditions of individual employees‚ or a group of employees. These include: collective agreements AWAs (Australian Workplace Agreements) ITEAs (Individual Transitional
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MEMORANDUM OF AGREEMENT THIS AGREEMENT made between ………………………………………………….. …………………………………………………………………………………………..of ……………………………………..signature …...……………….………………… (hereinafter called ‘the Employer’) of the one part and ………………………………. ………………………………………………………………………………………….. of ………………………………………signature.…………………………………….. (hereinafter called ‘the Project Engineer) of the other part. WHEREAS the Employer is desirous that certain Works should be constructed‚ viz Contract Name …………………………………………………………………………
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