Agreement Glossary

Agent – someone who is responsible for acting on behalf of another person (known as the client). The scope of the agreement and the agreement available to the agent is subject to the agreement between the master and the agent. However, unless otherwise indicated, third parties may consider that the officer has full authority to fork out. Franchise agreements allow a company to operate in a product or service controlled by another. For example, most automakers give out franchises to sell their cars to local garages that then work with the manufacturer`s brand. This decision went hand in hand with a multi-party agreement to give all registered voters the opportunity to vote by mail or withdraw one at an early stage, as reported by the Louisville Courier Journal. I agree with many of them… I heard Nancy Pelosi say that she did not want to leave until we agreed. The restrictive pact – is often included in long-term contracts and employment contracts in order to prevent parties from cooperating with competitors for the duration of the agreement and for a certain period of time. However, if the courts are not carefully drafted, they will consider them a trade restriction and will not apply it. Here is a term business contracts and glossary definitions – basically for the UK, and a useful guide for anywhere in the world. If you participate in the negotiation of business contracts – especially for your own company – you can get much better trading results if you have a good understanding of what contracts mean and their terminology. This will allow you to use your legal advice for specific legal issues rather than making strategic decisions over which you need full control.

There are two types of framework agreements: a single supplier that orders, as required, the goods and services covered by the agreement and – a framework for several suppliers – with at least three (3) suppliers – in which a mini-competition is concluded whenever all suppliers are subject to a requirement. Shareholder Pact – an agreement between all shareholders on how the company should be managed and the application of shareholder rights. This serves as a contract between shareholders. The company itself is not bound to it, as it is not a party to the agreement. Commitment The result of formalizing an agreement with an act of acceptance. Can also be used to describe the financial value of an agreement – the amount committed. Consensus ad ditto – agreement on an idea. This is the notion that the contracting parties must all agree on the basis of the treaty. If it turns out that the parties think differently, then there is no consensus and the treaty is null and void. Finally, over the past four years, he and his representatives have cancelled or denounced dozens of other international environmental regulations, practices and agreements.