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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.

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.
 

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. 

How To Terminate An Offer

How To Terminate An Offer

There are several circumstances under which an agreement or an offer may be terminated. The first way to terminate an offer is to attempt to change the offer. Any attempt to change an offer is known as a counter-offer. A counter-offer is a termination of an offer by the offeree. If a counter-offer is presented and subsequently rejected, the execution of the original offer cannot be compelled by a court of law. Unless the counter-offer contains a provision specifically authorizing it, any previous offer becomes invalidated.
 
 
An offeror may terminate an offer if the offer contains a time period during which the offer must be accepted. If the offer does not contain a time period after which the offer becomes invalidated, then the courts commonly hold that the offer is invalid after a "reasonable" amount of time, but never specifically states what that time period is. In the event an offeror rescinds the period of time for which they had previously agreed to keep an offer open, the offeree can sue for breach of contract.
 
 
Contract negotiations are often lengthy processes. If during the negotiations one of the parties discovers that the information being discussed in the negotiations is substantively different than as presented during the negotiation process but fails to disclose this information, it may serve as grounds to invalidate the other party's agreement.

Quick Outline of the Marital Settlement Agreement

Quick Outline of the Marital Settlement Agreement

Legal Context for Marital Settlement Agreements
A Marital Settlement Agreement is a kind of contract which can be drawn up by the two primary parties to the legal action of a marital divorce, as provides for the settlement of the various rights, privileges, and responsibilities held by the two individuals without the necessity of further litigation or adjudication.
U.S. divorce laws are, for the most part, formulated and carried out on a state-by-state basis. Thus, the particular Marital Settlement Agreement drawn up in reference to a particular marriage should refer to the applicable laws of that specific jurisdiction and provide against the possibility of provisions which cannot legally go into effect in that particular state.
 
Subjects for a Marital Settlement Agreement
A Marital Settlement Agreement, as will generally be entered into with the assistance of legal counsel separately retained by both of the parties to the divorce, can most effectively proceed by providing for all of the potentially legally relevant aspects of the legal relationship between the two individuals.
 
Function of Marital Settlement Agreement
A Marital Settlement Agreement does not itself provide for the legal effectiveness of the severing of the legal relationship between the two parties signatory to the contract in the form of a divorce, nor does it enact the initiation of the legal process of the court considering and potentially approving the rightness of such a legal motion. Often Marital Settlement contracts are drawn up as preambles to entering into an amicable divorce.

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. 

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. 

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.

Quick Overview of The Background of An Agreement

Quick Overview of The Background of An Agreement

An agreement is the second essential step in creating a contract. A formal contract is now recognized by the signing of a contract. In an informal contract, which is a contract when signatures are not exchanged, acceptance is demonstrated by the actions of the two parties. In a bilateral contract, agreement occurs when the two parties accept the obligations placed on them. When a unilateral contract is in effect, agreement occurs when the offeree completes the action requested by the offeror.
The “meeting of the minds” as a standard for recognizing agreement has fallen out of favor due to the recognition that a court cannot assume to know what is within the mind of any individual. As a result, the court cannot possibly interpret the intentions of any party to a contract at the time they enter into the contract.
There are three tests which the courts use to determine if an essential element of a contract is missing. The first standard that the courts have adopted is the “reasonable person test.” The reasonable person test is designed to guard against any agreement which would be detrimental to the person agreeing to the contract. 
When there are elements missing from a contract that is presented before the courts in dispute, the courts employs an “officious bystander test,” which states that terms can be added to a contract in the event that the terms would have been accepted by the parties if only they had been suggested during the negotiations. 
The “business efficacy rule” states that a rule can be implied in the event that it would be included by any reasonable businessman in an attempt to make their businesses run more efficiently. The business efficacy rule only allows the courts to add the simplest terms which would lead to increased efficacy.

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.
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