In our last RealDealDocs blog entry, we discussed sales agreements, equipment lease agreements and proxy agreements. This week, we will cover three other types of agreements: executive employment agreements, non-competition agreements, and bonus plan agreements. To review, an agreement can be defined as “a negotiated and usually legally enforceable understanding between two or more legally competent … Read more
Intercompany Agreements are documents used to define how sales or transfers of goods and services by businesses owned by the same company are handled.
Exclusivity agreements come in a variety of forms and are designed to meet a range of goals. The overriding purpose of each exclusivity agreement is to define a relationship in which (generally) two parties agree to deal only with one another, to the exclusion of third parties. The duration of the agreement; whether it is … Read more
A lockbox agreement is used in “lockbox banking”, a service implemented by banks which enables companies to securely and conveniently accept payments at specified post office boxes in lieu of having the payments go directly to the companies.
Force Majeure is a legal definition encompassing a collection of unlikely yet not impossible hindrances to performance in a contract – such as a fire, a flood, an Act of God, or possibly a global pandemic among other things. A force majeure clause in a contract generally excuses any or all delays in performance as … Read more
Move over bitcoin – toilet paper is the now hottest currency in play. Unless you were living in a part of the United States prone to hurricanes or blizzards, you may not have thought of stockpiling toilet paper prior to the COVID-19 pandemic. Yet we are now in a new world which is considerably lacking … Read more