What is a Signed Agreement? An agreement between two parties that is duly executed by each of the parties and signed by both of them before a notary public. This is usually done in the presence of an attorney who attains legal privileges to do so. Such an agreement does not necessarily have to include a waiver of rights or duties as such.
There are many different types of agreements, but a good one would be one that involves a sale, purchase, lease, hire purchase, annuity, royalty, purchase, contract, hire purchase, sale, or transfer of any real property, goods, funds, or information of value, held between the two parties to such an agreement.
What is a court case? In case there is a need to choose an arbitrator or go to court a court case is when one of the two parties involved in the transaction decides to take their dispute to court. They would go to court in an attempt to either prove their rights or to settle the matter amicably. When a case is settled amicably one of the parties is usually required to reimburse any expenses that have been awarded to one of the parties.
What is a written agreement? It is better to have a written agreement than an oral agreement. The reason for this is that a written document clearly spells out all the terms and conditions of the transaction between the two parties to the matter. It would also allow for correct documentation.
What is a verbal agreement? Verbal agreements are used when only a written agreement is needed. These types of transactions occur more frequently in real estate transactions where the parties know each other well and can draft a written agreement. When you purchase real estate, the seller should include in the contract a provision requiring you to disclose any liens or encumbrances on the property. In the case of manufactured homes it is common for homeowners to have the option to purchase or sell the property without going through a lengthy court process.
What is a dispute resolution? A dispute resolution is a process whereby a problem is settled between two parties once the problem has been identified. A dispute resolution can be accomplished through legal documents such as a complaint, counter complaint, and the resolution letter. The document itself may be a confidentiality or non-disclosure agreement, a release, or an arbitration agreement.
What is a labor agreement? An agreement is a written contract that establishes the terms and conditions of employment between an employee and an employer. Typical labor agreements establish the amount of pay, number of hours worked, holiday pay, and termination notice. Labor agreements are common in the hospitality industry and in some industries such as construction, shipping, and the electrical wiring industry. In the hospitality industry the typical agreement will outline housekeeping, kitchen, and valet parking duties. In the electrical wiring industry the typical agreement would outline electrical wiring standards and code violations.
What is a fly-by-night contract? A fly-by-night contract is a term in which a person or company that lacks proper certification, knowledge, or expertise forms a business entity in hopes of raising enough money to pay a debt without actually having done any work. Fly-by-night companies do not care about the product or services they provide; all they are interested in is raising capital. It does not matter if they have nothing to offer, they just want to raise the capital. A fly-by-night contract often goes unnoticed until the company is in financial ruin and unable to pay a debt.