leases a combustion turbine from Goliath Co for a 10-year non-cancelable term. The lease agreement is signed on December 15‚ 2004 and Big Bear’s right to use the turbine begins on January 1‚ 2005. Various provisions and other facts from the lease are listed below. Provision 1 Big Bear pays Stipe‚ Berry‚ Mills and Buck LLP‚ its external legal counsel‚ $500K in connection with negotiating the lease agreement. Big Bear is also required to pay $1 million of legal fees incurred by Goliath Co. Provision
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element in a contract. While making a contract; parties of the contract agree to do or not do something based on exchanging some kind of value between them. These values they are exchanging are the consideration. So‚ without certain expectation an agreement is not enforceable unless there is some kind of consideration. The British contract Act defines consideration as follows- “when at the desire of the promisor‚ the promise or any other person has done or abstained from doing or does or abstains
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sign was the deed to the property. Mary signed a document. Later on‚ when the municipal tax bill arrived‚ Mary McDonald was really surprised to see that the property was in her daughter’s name. The mistake occurred. Mary McDonald entered into an agreement in such a way that the contract did not express her true intensions. She thought that the paper she signed was the cancellation of her fire insurance. The mistake that happened is unilateral mistake‚ as only Mary did not recognize what was she signing
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Independent ContraCtor’s agreement Independent contractor—subject to the terms and conditions of this agreement‚ the company (Road Runners Delivery Service) hereby engages the contractor as an independent contractor to perform the services set forth herein‚ and the contractor hereby accepts such engagement. Duties‚ terms and compensation—The contractor’s duties‚ are as follows: The contractor agrees to pick up from local restaurants all orders and to deliver them in a timely and efficiently manner
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activity by the Korean tenants because of lack on transparency of the lessee and details on rental agreement. This had caused ethical issues on the landlord-accountability and responsibility‚ townhouse administrator-responsibility and privacy and Korean tenants-transparency and honesty. Facts: A residential townhouse unit in an exclusive subdivision was leased to Mr. Park for a year. The lease agreement includes a provision that the tenant/s must comply with the Townhouse Rules and Regulation. It
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Identification of the Problem/Issue: The over-reliance on The United States as a primary export market for Canadian goods and services ‚ even as costly input suppliers ‚ despite the economical volatility that the U.S has been experiencing during the past 4 years and also regardless of the endless opportunities of much more beneficial trade relations with several other key players who will have great influence over the Global international trade traffic ‚ in the near future. Overlooking the
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Subject : Financial Accounting Ⅱ Lease agreement between NeedsLease and HasSpace NeedsLease is renting a space for its corporate office from HasSpace by entering into a lease agreement. The agreed lease term is for 10 years and there is no option to renew nor is the ability to negotiate renewal of the term. According to ASC 840 (5F of statement 13)‚ the lease is classified as operating lease. The agreement includes two provisions that may require NeedsLease to perform certain activities at its
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Contemporary Heights Hotel & Service Apartment Lease This Lease Agreement is made and entered into at Dhaka‚ Bangladesh on this the 17th day of April 2014. BETWEEN Contemporary Heights Hotels & Service Apartment represented by Hossain Md. Shamim located at ” Plot -21‚ Road-1/A‚ Baridhara J Block‚ Dhaka-1206‚ Bangladesh‚ hereinafter called “THE Lessor” (which expression shall mean his heirs‚ successors‚ executors‚ administrators‚ legal representative‚ nominees and assigns) of the ONE PART
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P1: OTA c01 JWBK501-Kettell May 30‚ 2011 12:46 Printer: Yet to come 1 Case Study 1: Ijara Contract 1.1 LEARNING OUTCOMES After working through Case Study 1 you should be able to do the following: PY R IG HT ED MA TE RI AL r Define the Ijara contract. r Define the Ijara wa Iqtina contract. r Distinguish a conventional loan from Ijara. r Describe the elements of an Ijara transaction. r Contrast Ijara with the other modes of Islamic finance. r Identify
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CONTRACTS PROJECT A CASE ANALYSIS ON Stilk v Myrick 16 December 1809 (1809) 2 Campbell 317 170 E.R. 1168 BY ROHAN GOSWAMI NATIONAL LAW UNIVERSITY‚ ODISHA ROLL NUMBER: 042 SEMESTER: SECOND SEMESTER COURSE: B.A. L.L.B Email: 12BA042@nluo.ac.in FEBRUARY 2013 This case analysis forms a part of the internal assignment and was assigned by the subject Professor Mr Rangin Pallav Tripathy. Issues that would be dealt with in the following case analysis: * The Law as it stood before
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