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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. 

Option Contracts Explained

Option Contracts Explained

Option contracts are contracts in which the offeror, or promisor, is limited in their ability to withdraw or rescind a contract. An option contract is an important element of a unilateral contract. Traditionally a unilateral contract is only formed when the action under consideration is completed. This is an issue because it provides no protection to an offeree who has completed the partial performance of the contracted action before the offeror withdraws the contract under discussion. 
An option contract transforms a unilateral contract into a bilateral one because it provides some guarantee to any party providing agreement to the contract that their actions will receive compensation. The compensation may begin immediately after the action is begun or may only come into effect once a significant portion of the work is completed. The party which has engaged an action leading to the partial performance of the contract may be able to claim detrimental reliance upon the belief that the offeror would provide payment.
For instance, Mike hired Steve to paint the walls and ceiling of his room for $100. Mike told Steve to leave after Steve had finished painting the four walls and was in the middle of painting the ceiling.
Under a traditional unilateral contract, Steve would not be entitled to any of the $100 because the money was provided as consideration for the completion of the task. Steve, however, could compel Mike through promissory estoppel to compensate him for the partial performance of the task. Steve undertook the actions under a detrimental reliance that Mike would allow him to complete to task.
Option contracts are usually found in real estate. Real estate option contracts exist primarily for the benefit of the buyer. The buyer in a real estate option contract is allowed time to secure financing, to arrange for a contractor to examine the land, and to investigate relevant zoning laws governing the property.
Real estate option contracts do not oblige the buyer to grant agreement to the seller’s offer. Agreement in real estate contracts can be withheld by a buyer looking to make money off the land. Real estate option contracts often have a short period of time before the terms laid out in the contract lapse.

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. 

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.

Rental Agreement vs. Lease Agreement

Rental Agreement vs. Lease AgreementWhen an individual is searching
for an apartment to rent, it is important that he/she understands the
difference between a rental and lease agreement. Understanding the way in which
an individual’s contract operates is a vital aspect of renting or leasing property.



Though the terms rental
agreement and lease agreement are frequently used interchangeably, it is
important to note the various differences that exist between these two types of
contracts. The type of contract that an individual enters into will determine
the responsibilities and the rights that he/she possesses while he/she is held
to this contract. 


In addition, these contracts range in regard to the
responsibilities and rights maintained by the landlord who is renting property
to a tenant.


A lease agreement is a type of contract that
regulates the relationship between tenants and landlords. A lease agreement
will last for a specified duration of time. In many instances, this period
lasts for one year, though this may vary substantially. While the contract is
active, both parties are required to adhere to all conditions detailed in the
contract. No alterations can be made to the contract while the contract is
active. Therefore, a landlord cannot choose to increase the cost of rent.


The conditions associated with rental
agreements are slightly different. For example, these contracts function as
month-to-month contracts. Every month, a tenant can choose to renew his/her
rental agreement or leave the property. In addition, once the month ends, alterations
can be made to the rental contract. Therefore, a landlord may decide to
increase the cost of rent at the end of every month.


Both rental and lease
agreements have beneficial and disadvantageous features.

Understanding A Rental Agreement

Understanding A Rental Agreement

Legal Context for Rental Agreements
A rental agreement is often referred to as a ā€œlease,ā€ 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 holdingā€™s non-owner for a purpose other than residence, such as for parking transportation, storing property or othersā€™ goods, transacting business, carrying out agricultural activities, or conducting the business required for a government agency or institution. 

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. 

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.

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.

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.
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