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What is a Compromise Agreement? Compromising agreements are commonly used management tools in order to achieve a resolution of a bona fide dispute with the obligation being to achieve an outcome which both parties are happy with so as to avoid further costs or litigation. The legal definition of a compromising agreement is an agreement […]
Defining a Purchase Agreement As with any real estate asset, the sale, purchase, and ownership of the insurance book of business of an agency begins with a purchase agreement. A purchase agreement is the contract that establishes the deal between the buyer and seller. While you may be comfortable debating the terms and conditions over […]
What is Legal Separation in Montana? In Montana, legal separation is a legal process that is quite similar to divorce, but with key differences that are important to understand. While a divorce terminates the marriage relationship and offers a means to end a marriage, legal separation provides an alternative for some couples that may not […]
Party Rental Agreements 101 Parties throw lots of parties, weddings and events through actual contracts executed for rental space. Understanding party rental agreements can help event hosts become better hosts and also help venue managers understand what to expect from event hosts.A type of lease between property owners or managers and an individual or group […]
Accepting Early Terminations of Leases Almost all leases include a contract provision detailing authorized bases for the early termination of the lease agreement. Those provisions are generally accepted as valid and enforceable by a competent court. In order for an early termination to occur, the applicable contract provision must be satisfied. Depending on which provision […]
What Exactly is a Cost Plus Construction Contract? Definition of a Cost Plus Construction ContractTo start, a cost-plus contract is where the contractor is reimbursed for the actual building costs plus an agreed-upon fee. This fee is usually a percentage of the actual project production costs. Example: A contractor uses a 5% mark-up on the […]
Knife Length Legality in Texas Generally speaking, based on the changes that came into effect September 1, 2017, there is no blade length limit as far as the possession of knives in Texas. In other words, there is no maximum knife blade length requirement to adhere to in order to legally own a knife.One exception […]
What Exactly is Legal Aid? Legal aid is the provision of free legal services to those who cannot afford an attorney. Legal aid attorneys help low-income individuals and families find solutions to their legal problems. Legal aid service providers serve a wide range of people, including families involved in domestic, housing, immigration and employment disputes. […]
What are Buy-Sell Agreements A buy-sell agreement is a contract that prescribes how a business will pass after the death, disability or voluntary termination of one of the owners. It is a controlling device in facilitating business succession. Its fundamental purpose is to set up the way in which one owner can be bought out […]
What are property agreements? Property agreements are legally binding contracts that set out the terms and conditions under which property, either real or personal, is transferred from one party to another. These agreements are crucial as they both provide clear evidence of the intentions of the involved parties and offer a method of dispute resolution […]
