contract is a legally binding agreement. Stated another way‚ "a contract is a promise or a set of promises for the breach of which the law gives a remedy‚ or the performance of which the law in some way recognizes as a duty." (Restatement‚ Contracts‚ 2d) study hint. The essence of a contract is that (1) by mutual agreement (2) parties create obligations that can be legally enforced. 2. ELEMENTS OF A CONTRACT Elements of a valid contract are: (1) an agreement; (2) competent parties; (3)
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Prenuptial Agreement Prenuptial agreement or what is often called “prenup” is a legally bound contract made by a couple before they marry concerning the ownership of their respective assets. To some people‚ a prenuptial agreement is an insurance issue‚ to others it is a trust issue. Is a prenuptial agreement really important? Does every engaged couple need one before they get married? What happened to the foundation of love and trust? With much speculation‚ this topic has become an intriguing argument
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PARTNERSHIP AGREEMENT entered into between: ___________________________________________________________________________ (full name and registration number) (“the First Partner”) and ___________________________________________________________________________ (full name and registration number) (“the Second Partner”) and ___________________________________________________________________________ (full name and registration number) (“the Third Partner”) WHEREBY IT IS AGREED
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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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Canada and International Agreements Agreement|Acronym|Canada and the Agreement| North American Free Trade Agreement|NAFTA|§ It was effective in January 1994.§ It is an agreement between Canada‚ the Untied States‚ and Mexico aiming to remove the tariffs among members.§ Canada’s exports to the United States have increased. 50% of Canadian products are sent to the States.§ Canada’s merchandise exports go to 39 out of 50 states.§ Mexico has almost doubled its exports to the States.| Free Trade Area
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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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MORTGAGE AGREEMENT THIS MORTGAGE AGREEMENT made and entered into this _____ day of July‚ 2012‚ by and between MRS. FEDERINA BALANAY QUINAY‚ the legal spouse of the late Mr. Federico C. Quinay‚ Sr. whose address is at Brgy. Luinab‚ Iligan City‚ hereinafter referred to as the “Mortgagor”; and MRS. AUDI QUINAY LIQUINGAN‚ the legal spouse of Mr. Menard Q. Liquingan whose address is at Ineangan‚ Dupay Del Norte‚ Nueva Vizcaya‚ hereinafter referred to as the “Mortgagee”. WHEREAS‚ the Mortgagor owns
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not particularly during a tough time‚ but sadly resulting in one for many. The decision to negotiate a FreeTrade Agreement with the United States seemed good at the time; Wider access to a variety of goods and services‚ new employment opportunities and the removal of trade tarriffs. Critics had stated their opinions solely based on the unemployment that the FTA (Free Trade Agreement) had created. Supporters had their opinion on the social‚ economic and political impact for Canada. Even though
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TREATY AND 1997 KOSI STUDY AGREEMENT Dr. AB Thapa Summary: The 1966 Revised Kosi Treaty is a landmark treaty entitling Nepal absolute right to use the entire water of the Kosi in whatever way Nepal pleases. The amendment of the Kosi treaty from 99 to 199 years solely serves Nepal’s interest. There is no justification in blaming King Mahendra for this amendment to 199 years. The 1997 Kosi Study Agreement has paved the way for implementing
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