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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. 

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. 

Termination by Law At A Glance

Termination by Law At A Glance

There are several ways in which an offer can be terminated. The first way to terminate an irrevocable offer is for the offerree to reject the offer, either by denying it or by presenting a counter-offer. The second way is for a period of time laid out in the original offer to expire. If the offer states that it must be accepted by a certain time, but it is not, then the offer to provide agreement to the contract is considered terminated.

An irrevocable offer, or any other offer for that matter, can also become unenforceable in several other circumstances. If the party which offered the contract dies or becomes legally barred from entering into a contract, for instance due to mental incompetence, it will be deemed unenforceable. A contract can become void if a law is passed that would cause the contract to be contrary to statute. 

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. 

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.

Important Details on Service Level Agreement

Important Details on Service Level Agreement

Contract Law Context for Service Level Agreements
 
 
A service level agreement (SLA) is a kind of contract which sets the understood and legally bearing conditions, or level, for a certain specific kind of commercially offered and accessed service.
 
 
As with other kinds of contracts also passed in the commercial and business world, a service level agreement will necessarily involve at least two entities signatory to the contract and thus subject to its provisions, thereby establishing a legal relationship, as could be further used, upon claimed instances of violation or illegal modification thereof, to furnish the grounds for a process of civil litigation transacted in the U.S. legal system. 
 
 
Identifying Service Level Agreements
 
 
A service level agreement must necessarily be identified in order for the correct application of U.S. contract law, in terms of those contracts passed which specifically designate one party to the document as being the customer and the other as being the entity furnishing a particular service to that customer. A third party contract, necessarily, is thus precluded from the language considered as applying to service level agreements. 
 
 
Subjects for Service Level Agreements
 
 
Some of the functions which might be covered under service level agreements can be expected to comprise categories such as:
 
 
    Priority
 
 
    Obligation
 
 
    Guarantee
 
 
    Warranty
 
 
Different Service Level Agreement Types
 
 
A service level agreement might potentially comprise customer-based, service-based, multi-level, corporate-level, customer-level, and service-level service level agreements, as legal measures commonly applicable in such cases. 

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.
 

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.

Understanding A Rental Agreement

Understanding A Rental Agreement

Legal Context for Rental Agreements
A rental agreement is often referred to as a “lease,” particularly in the frequently applicable case of the specific rental agreement being in relation to the provision of a real estate holding. A rental agreement can more generally be noted as taking effect in the general context of contract law, and as with contracts in general, may be expected to provide for setting conditions in relation to the legal relationship between the two parties to the rental agreement.
In the event of a contract taking the specific form of a rental agreement, those two entities concerned with and signatory to the legal document will often be a landlord and a tenant. 

Provisions to be Considered in Rental Agreements
A rental agreement can generally be expected to provide for such various issues inherent in a real estate contract as the person obliged to pay for tenancy and the individuals who will actually act as tenants, the date on which tenancy may be allowed to begin, the address and extent of the real estate subject to the rental agreement, and the financial payments to be payable to the landlord.
A rental agreement might also be granted to the real estate holding’s non-owner for a purpose other than residence, such as for parking transportation, storing property or others’ goods, transacting business, carrying out agricultural activities, or conducting the business required for a government agency or institution. 
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