An executed agreement is a legal document signed by all necessary parties, but it does not necessarily mean it is effective. Contracts and lease agreements are common examples, and the effective date is when the document becomes binding. An enforced agreement is essentially a legal document that has been signed by the people needed to […]
A small business partnership agreement outlines the joint ownership of a business, including each partner’s investment, responsibilities, and dispute resolution processes. It can be between individuals or small businesses and seeking legal advice is recommended. A small business partnership agreement is a document through which the parties agree to jointly own a business. This type […]
An interest rate agreement, also known as a FRA or forward rate agreement, is a financial contract where the buyer compensates the seller if the interest rate changes from a predetermined amount. The contract involves a strike rate and a base rate, and the buyer must make a payment to the seller if the base […]
An operating agreement is a contract between partners or members of a limited liability company that defines the business structure and functions similarly to a corporation’s charter. It is important to comply with state regulations to avoid default rules and to establish the relationship of partners, members, and officers to the capital accounts held by […]
A franchise agreement is a legal contract between a franchisor and a franchisee, outlining the terms of the franchised business. The agreement includes details such as royalties, support, taxes, and requirements for maintaining the brand’s standards. It helps maintain quality and clarifies expectations for both parties. A franchise agreement is a legal contract that exists […]
A joint venture is when two or more entities come together for a project, pooling resources such as money, equipment, and knowledge. There are three types of joint ventures: contractual, corporate, and partnership. The agreement can be verbal or contractual, with the latter having more detailed obligations and responsibilities. A joint venture agreement is similar […]
A listing agreement is a contract between a property owner and a real estate agent for the sale of a property. There are three types of agency: exclusive right to sell, exclusive agency, and open agency. Exclusive right to sell is the most secure for brokers, while open agency offers little protection. Staging is recommended […]
