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Must Know Facts About Tenancy Agreement

Must Know Facts About Tenancy Agreement

Contract Laws on Tenancy Agreements
As a subset of U.S. contract law, a tenancy agreement can be expected to comprise the document through which the legal relationship between a landlord and his or her tenant is established. As with other kinds of contracts, tenancy agreements typically pertain to the conditions agreed to and entered into on the part of both of the signatory and named parties to the contract.
More specifically, a tenancy agreement entered into on the part of both parties in the U.S. or another comparable and similarly-functioning legal jurisdiction and system can and should be expected to answer the questions “who?,” “what?,” “when?,” and “how much?”. 

Tenancy Agreements as Forms of Leases
A tenancy agreement could be considered a kind of lease, and indeed it will often be referred to with this term. In the U.S. and other legal systems considered to come under the overall heading of so-called “civil law,” a tenancy agreement, or any other form of lease alternately entered into by a property owner and prospective property user, must include the specified and necessary element of rent payable on the part of the contracting individual to the property owner.
Tenancy agreements can be understood as potentially differing from other kinds of leases, as might be alternately entered into, in terms of being for expressly residential purposes. As such, the parties signing a tenancy agreement will typically be landlord and tenant. A tenancy agreement might also variously come in such forms as fixed, periodic and indefinite leases.
 

Find Out the Types of Agreement Here

Find Out the Types of Agreement Here

 

Subcontractor Agreement vs. Contractor Agreement

A contractor agreement is a written agreement that exists between a company and a contractor hired by that company to complete specified tasks. A subcontractor agreement exists between a contractor and a subcontractor, who the contractor hires to complete the tasks outlined in an existing contractor agreement. 

Non-Compete Agreement

A non-compete agreement is a written contract created by an employer and signed by an employee. When an individual begins employment with a company, he/she may be required to sign this type of agreement. Subsequently he/she will be prohibited from acquiring employment with a competing company or a similar company for a specified period of time. 

LLC Operating Agreement

When a group of individuals chooses to create and operate a Limited Liability Company (LLC), it is vital that they develop an LLC Operating Agreement. This is an agreement between all members involved in the company which details all pertinent information. An individual can locate an LLC Operating Agreement template online to help him/her develop an Operating Agreement. 

Cohabitation Agreement

When two individuals decide to live together, they should consider creating a cohabitation agreement. A cohabitation agreement is a legally binding contract that outlines the personal and financial responsibilities of each party. In addition, it addresses how assets will be divided in the event that the couple decides to separate. 

Trade Agreements

Trade agreements are contracts that exist between at least two countries in order to govern and regulate trade between these countries. The United States has established an individual free trade agreement with numerous different countries. These agreements act to reduce the existing trade barriers and promote trade.

 

Subcontractor Agreement vs. Contractor Agreement

Subcontractor Agreement vs. Contractor Agreement

In order to understand the difference between a contractor agreement and a subcontractor agreement, it is first important to understand the difference between a contractor and a subcontractor. In many instances, a business will hire a contractor to complete certain tasks or duties.
 
 
A contractor is not considered to be an employee. Instead, a contractor will act as an independent entity, performing certain tasks for the company. A contractor agreement is an agreement that exists between a company and a contractor that the company hires. This agreement will be documented in written form. 
 
 
The document will outline all pertinent features of the agreement, including the tasks that are to be completed by the contractor, the time period that the contractor has to complete these tasks, and the compensation that the contractor will receive for his/her work. 
 
 
In order to successfully complete the tasks outlined in a contractor agreement, a contractor may be required to hire a subcontractor. A subcontractor is an individual who is hired by a contractor to provide the contractor with goods or services necessary to complete the tasks specified in an existing agreement. A subcontractor will be hired by a contractor after the contractor has been hired by a company.
 
 
 
A subcontractor agreement usually exists between a contractor and a subcontractor. It outlines information similar to the conditions detailed in a contractor agreement. In most instances, the contractor will be responsible for compensating the subcontractor and the subcontractor is required to complete certain tasks for the contractor. Both a contractor and subcontractor work together to complete specified duties for a company or an individual. 

What You Didn’t Know About Non Compete Agreement

What You Didn't Know About Non Compete Agreement

A non-compete agreement is a type of agreement contract created by employers, which prohibits employees from being employed by competitors or similar companies. Prior to working for a company, an individual may be required to sign a non-compete agreement. 
This agreement will usually outline how long the agreement lasts and to what geographical location the agreement applies. After an individual signs a non-compete agreement, he/she will not be permitted to work for competitors of the company.
There has been an extensive amount of debate surrounding non-compete agreements. For example, it prohibits an individual from seeking employment in a field that he/she has experience in, thereby significantly limiting his/her employment opportunities. These agreements are also very difficult to enforce. 
An employer would need to know where his/her past employees were seeking employment, and subsequently take the legal action necessary to prevent them from being employed in these locations.
Despite the many concerns regarding non-compete agreements and the flaws associated with this type of contract, there are practical reasons for using them. For example, some companies maintain confidential client lists to which employees have access. In addition to these customer lists, employees also have access to marketing strategies, new products, and additional confidential information. If a former employee chooses to acquire employment with a competitor, he/she may reveal this information, thereby adversely impacting a company.
A non-compete agreement is considered to be a legally binding contract, as long as the conditions outlined within the agreement are reasonable. 

Quick Overview to LLC Operating Agreement

Quick Overview to LLC Operating Agreement

In order to understand what an LLC Operating Agreement is and its function, it is first important to understand what an LLC is. LLC stands for Limited Liability Company. A Limited Liability Company is a business entity that maintains a number of features unique from other business organizations. 
For example, an LLC combines features possessed by small partnerships and large corporations. In an LLC, the owner or owners of the company maintain limited liability if the company falls into debt. In addition, an LLC does not face the taxation experienced by corporations. These features make Limited Liability Companies attractive to potential business owners.
In order to create and operate an LLC in the United States, participating members must create an LLC Operating Agreement. If an LLC fails to create an LLC Operating Agreement, it will be held to the rules and regulations outlined by the state. 
An LLC Operating Agreement outlines the rights, managerial duties, and financial responsibilities of all members involved in the creation and operation of an LLC. When a group of individuals chooses to establish an LLC, it should create an LLC Operating Agreement. 
An LLC Operating Agreement template can be located online. This template will help an individual to determine what information to include within the agreement. Some features that should be addressed include the responsibilities of each member, the rights of each member, the interest percentages of each member, and how all losses or gains are to be allocated. In addition, the Operating Agreement should cover voting procedures, management techniques, and buyout regulations. 

Understanding Cohabitation Agreement

Understanding Cohabitation Agreement

A cohabitation agreement is a type of legal contract that exists between two individuals who live together. This type of legal agreement functions to ensure that a couple residing within the same home are protected from legal proceedings and costs if they choose to separate in the future. A cohabitation agreement will detail the rights and responsibilities of both parties.
In many ways, this type of agreement is similar to a prenuptial agreement. It will detail the financial responsibilities of each individual. For example, a cohabitation agreement may indicate that each party is responsible for contributing equally to the financial responsibilities that arise throughout the duration of their cohabitation. These costs may include rent or mortgage payments, utilities, and groceries, just to name a few.
In addition, a cohabitation agreement will detail how property is to be divided in the event that the couple separates. This contract will list which assets are to be designated to each individual upon separation. This agreement is particularly important when considering assets that were purchased by both parties jointly.
Other factors that may be covered in a cohabitation agreement include the financial and personal responsibilities of caring for any existing children and the responsibilities of each party in regard to addressing debt.
Many couples who decide to live together do not consider a cohabitation agreement. However, this contract is important to ensure that the rights of each party are upheld in the event of an unforeseen separation.

100% of Facts About Trade Agreements You Need to Know

100% of Facts About Trade Agreements You Need to Know

A trade agreement is a type of agreement that exists between two or more countries in order to govern the trading procedures that exist between these states. Within the domain of international trade, there are a range of tariffs and prohibitions which limit trade between certain countries.
 
 
Trade agreements can function to counteract these barriers and promote trade between these countries. Limiting trade barriers is advantageous for the United States economy, as it allows for the exportation of more goods. It also helps to benefit participating countries, as the United States can import an increased quantity of goods from these countries, and subsequently sell these goods within the United States. The details of a free trade agreement will vary from one agreement to another. 
 
 
Currently, the United States is engaged in a free trade agreement with a number of different countries. For example, the U.S. has established a free trade agreement with Australia, Jordan, Panama, South Korea, and Singapore, just to name a few.
 
 
Perhaps the most widely known of the existing free trade agreements is the North American Free Trade Agreement (NAFTA). The North American Free Trade Agreement is an agreement that exists between the United States, Mexico, and Canada. The initial stages of the agreement occurred between the United States and Canada, and subsequently, Mexico entered into the contract. NAFTA limits the trade barriers that existed between these three countries and encourages open trade.

Understanding the Terms of Acceptance

Understanding the Terms of Acceptance

If there is a history of contractual relations between the two parties and the offeree does not comment on a proffered contract, their silent acceptance may be inferred from past history. However, a series of contracts must exist for this standard to be applied.
The terms of acceptance, such as requiring that acceptance be faxed or mailed to the offeror, may be laid out in the text of the offer. These are acceptable restrictions that can be placed on conditions of acceptance and are not considered to place an unreasonable burden upon the offeree. The acceptance must be returned in such a way that meets or surpasses the level laid out by the offerror.
If the acceptance is sent through the postal system, it is considered to be in effect as soon as the postage on it has been paid, whether it is delivered to the offeror or not. This is the case because the acceptor fulfilled a reasonable attempt to convey their acceptance. In addition, forcing the acceptor to ensure that the postal service completed delivery of the acceptance is seen as placing an unfair burden on the acceptor. The one exception to this “mailbox rule” is in contracts which specify that the contract is conditional on receipt of acceptance.
The acceptance must be made in a timely manner. If the offer does not give a deadline by which the contract must be accepted, the courts have decreed that the acceptance must still be in a reasonable amount of time. It is impossible for acceptance to be delayed forever.

End User License Agreement

End User License Agreement

An end user license agreement, often referred simply as EULA for short, is a license that is included with most types of computer software. The end user license agreement essentially grants the end user, or buyer of the software, the right to use that particular software in a particular way. The end user license agreement is therefore a legally binding contract between the end user, or consumer, who will agree to specific terms of use and regulations imposed by the software company or producer, and the maker of that software. 
The contract will oftentimes be presented in paper form, though the common practice has been to introduce the end user license agreement in the software itself, which will appear the first time the software is loaded into a particular computer prompting the end user to read and agree to the terms of using the particular product. The end user license agreement is provided by the software companies themselves, which does not require the end user to have to procure any kind of document as a contingency.

Quick Overview on the Credit Agreement

Quick Overview on the Credit Agreement

Definition of a Credit Agreement

As a commonly applicable feature and function of U.S. contract law, a credit agreement can be expected to comprise of the contract drawn up between a bank, or financial institution of comparable resources and functions, and another legal entity designated as the recipient of a financial loan from that institution. As such, credit agreements are allowed for under U.S. contract law, as well as the contract laws used in other legal jurisdictions, in order to allow for the availability of credit issued to individuals and organizations. 


Provisions of a Credit Agreement
As with other kinds of contracts also put into effect in a commercial or financial context, a credit agreement can be expected to establish the legally binding conditions which will govern the functions allowed for or prohibited between the two parties to the contract, as comprise in this case of the bank furnishing the loan and the individual or organization accepting that loan. Perhaps most importantly, the interest charged on the loan will generally be affixed through the provisions set forth in the credit agreement.
The composition of a credit agreement might further function toward specifying the point, if any, when the loan must be repaid in full to the lending bank and thus when the legal relationship between the bank and loan recipient will come to an end, though often this will not be found to apply. 

Potential Settings for Credit Agreements
Credit cards and mortgages are some of the financial instruments potentially subject to credit agreements. 
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