...A covenant, in secular terms, is simply a legal contract between two people that create shared obligations which become enforceable by law ("Contracts," n.d.). Should this type of contract be broken, the law itself remedies the failed relationship and terms of agreement ("Contracts," n.d.). In theological terms, a covenant is also a binding agreement between two or more people with shared responsibilities and privileges, however, once ratified, a theological covenant cannot be changed in any discernable way, including the people involved or the covenant provisions (Korver, 2015, p. 29). Covenants, in the time of Abram, were confirmed by handshake, exchanging shoes, salt, or by blood (Pentecost, 1995), of the four covenants, the blood covenant...
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... • Bible Lands o Bible Land Photographs o Books On Bible Cities o Articles On Bible Cities • Articles o Jesus Christ o Salvation / Baptism o New Testament Church o Denominations o The Eldership o Preachers / Preaching o Bible Land History o Godly Living o Marriage / The Home o Misc. Articles o Religious Humor • Clip Art o PowerPoint Backgrounds o Presentation Graphics o Web Page Graphics o Bible Land Photos • Search • Exit Five Great Bible Covenants by David Padfield In form, a covenant is an agreement between two people and involves promises on the part of each to the other. The concept of a covenant...
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...detail the who, what, when, where, and how of an agreement between the parties involved. Since most contract disputes center on the terms and whether the parties voluntarily agreed to those terms, making sure you clearly state these details will save time and money in future business dealings. CyberText Consulting, technical writing and online documentation specialists, provides a sample contract on their Web site. Anyone interested in working for the company will need to agree to the contract terms and conditions outlined there. Read through the sample contract and then answer Questions 1–4. Visit URL: Contract Sample http://www.cybertext.com.au/contract_sample.pdf Questions and Answers Answer the following questions in the fields below. Question 1: Why do you think this contract spends so much space defining the certain subjects, such as “cybertext”, “technical writer”, and “third party”? Question 2: What obligations did the contract impose on each party? Question 3: Based on your knowledge of contract law, does this agreement meet all of the requirements for a valid contract? Why or why not? Question 4: Under what conditions might the employer terminate the contract with the independent contractors. Generally, do the terms of the contract seem fair? Practical Internet Exercise 9-2: Management Perspective—Covenants Not to Compete Instructions: Employers frequently have their employees sign covenants not to compete in which the employees agree...
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...Jerome Chang Bible 9 Mr. Dellos December 1st 2014 Nat Geo Style Genesis Travel Blog with Abraham According to the dictionary, covenant means an agreement or to agree on something. However, in a Christian point of view, there is more to the definition than just an agreement. In Genesis 12:1~3 there is an Abrahamic Covenant. One of the most famous covenant. There are two types of covenants, conditional and unconditional. A conditional covenant is an agreement that is on both parties for its fulfillment. Both parties agree to fulfill certain conditions. If either party fails to meet their responsibilities, the covenant is broken and neither party has to fulfill the expectations of the covenant. An unconditional covenant is an agreement between...
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...of contract and promissory estoppel. Defendant refuted Taymor on the grounds that Plaintiff violated the implied covenant of good faith and the contract thus has become commercially impracticable. A contract is a promise that is legally enforceable and if breached entitled to a remedy. This legal memorandum discusses potential remedy for Taymor and Hello as well as strengths and weaknesses of each party’s possible arguments. II. Breach of Contract Taymor entered into an agreement with Hello pursuant to which material terms related to Taymor’s role on the Musical were decided (“Collaborator Agreement”). According to the agreement, “Taymor will have approval over the following elements . . . and the following elements also require the approval of Hello” and she will be provided with the total of $125,000 non-recoupable fee. Collaborator Agreement July 12, 2005. While the agreement requires Plaintiff’s approval on certain changes in the Musical, however, it fails to stipulate that she has the final creative approval over the Musical related to elements, including timing of approvals and re-writing. The vague terms of Collaborator Agreement regarding the extent to which Taymor can have approval of has enabled Defendant to claim that it is not obliged to obtain her approval before making any changes to the book. However, it must be noted that Collaborator Agreement is by no means a fully integrated written contract. It is clearly stated in the document that “a...
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...of funding for businesses. For example, these loans can be structured either as short- or long-term, fixed or floating rate, demand or with a fixed maturity, and secured or unsecured. While each potential borrower's business is unique, reasons to borrow generally include the purchase of assets including new fixed assets or entire businesses, repayment of obligations, raising of temporary or permanent capital, and the meeting of unexpected needs. Loan repayment generally comes from one of four sources: operations, turnover or liquidation of assets, refinancing, or capital infusion. This note describes traditional bank lending products, the role of the lending officer, credit evaluation, and the structuring of credit facilities and loan agreements. Specialized loan and credit products are described in Appendix A. Traditional Commercial Bank Lending Products While increased competition has forced banks to develop innovative credit facilities and financing techniques, traditional products, which include short-term, long-term, and revolving loans, continue to be the mainstay of commercial banking. Short-Term Loans Short-term loans, those with maturities of one year or less, comprise more than half of all commercial bank loans made. Seasonal lines of credit and special purpose loans are the most common short-term credit facilities. Their primary use is to finance working capital needs resulting from temporary build-ups of inventory and receivables. Reflecting their use, repayment...
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...and private covenants. For the most part zoning ordinances and private laws (rules, regulations, and deed restrictions) appear to provide considerable aesthetic benefit as well as serve to preserve property value. However, these very laws and covenants work to advance government policy and foster continued segregation not promote community interest or protect ownership rights. Consequently, governmental and private leasing prohibition often significantly restricts a title holders exercise of property rights and use of capital. Additionally, rental restrictive covenants result in undue hardship for owners and potential tenants alike. Further, these frequently encountered universally accepted private laws disguised as property use tools work to control who is allowed to reside in a particular neighborhood not prohibit value impacting undesirable usage. More, the preclusion of leasehold estate alienation ultimately infringes on the freedom to contract, decreases availability of rental housing, and artificially raises market rents, as well as functions to segregate specific demographic groups (Boyack, 2014). However, establishing constitutional violation is arduous. More, the courts consider leasehold estate prohibiting covenants presumptively enforceable agreements. "Despite the involvement of governmental and quasi-governmental entities in CIC formation, courts unanimously treat CIC covenants as purely private, voluntary, and presumptively enforceable agreements" (Boyack, 2014...
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...------------------------------------------------- AGREEMENT IN RESTRAINT OF TRADE CONTRACTS TABLE OF CONTENT * INTRODUCTION * TYPICAL RESTRICTIVE CLAUSE * KINDS OF RESTRAINT * RESTRAINT OF TRADE UNDER THE COMMON LAW * EMPLOYER MUST HAVE A VALID INTEREST * RESTRAINT MUST BE REASONABLE * EXCEPTION * CONTRACTS OF EXCLUSIVE DEALING * RESTRAINTS ON SONGWRITERS AND OTHER ENTERTAINERS * IS RESTRAINT GOOD OR BAD FOR HEALTHY BUSINESS? * CONCLUSION ABSTRACT Agreement in restraint of trade is defined as the one in which a party agrees with any other party to restrict his liberty in the present or the future to carry on a specified trade or profession with other persons not parties to the contract without the express permission of the latter party in such a manner as he chooses. In other words “one in which a party agrees with any other party to restrict his liberty in the future to carry on trade with other persons who are not parties to the contract in such a manner as he chooses”. INTRODUCTION This research work deals with an area of law which under classical contract theory brought two principles into direct conflict. On the one hand, classical theory endeavoured to promote ‘freedom of contract’ – it is the parties who determine their obligations...
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...The Early Covenants between God and Man Gabriel B. Eagle Grand Canyon University: BIB 351 October 18, 2014 The Early Covenants between God and Man Throughout the Hebrew Old Testament and especially throughout the history of the nation of Israel, covenants have been made and used between many different parties. God has made the most significant and important covenants with his creation. Some of these early covenants provide a very interesting insight on exactly what the word ‘covenant’ means. According to the Biblical texts and narratives provided in the Hebrew Old Testament, especially in the Pentateuch, there is a constant theme and definition that can be gathered on the word ‘covenant’ and its meaning. A Biblical Definition of ‘Covenant’ After surveying the Pentateuch, one can see how a ‘covenant’ is the creation of a union between two parties, oftentimes commemorated through special ceremonies, eventually seeking to establish some kind of solemn promise, sometimes resulting in tasks needed from both parties. The clearest example of this union is seen through the Abrahamic Covenant (Beckwith, 1987). Through this covenant, God and Abraham were brought together in a special kind of union, one in which solemn and divine promises were made both by God and Abraham (Wenham, 2003). As a result of these promises, both God and Abraham had tasks to accomplish, obedience by Abraham and fulfillment of blessing by God, in order to fulfill and respect the covenant. Three Main...
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...2. The territory restrictions are unreasonable The territory restrictions of Pete Palmer’s employment agreement state that the employee will not be employed in the counties of Fulton, DeKalb, Gwinnet, Cobb, Clayton, and Athens-Clarke, Georgia, or at any radio station within 100 miles of WBLR. According to Ga. Code. Ann § 13-8-56: [A] geographic territory which includes the areas in which the employer does business at any time during the parties' relationship, even if not known at the time of entry into the restrictive covenant, is reasonable provided that: A. The total distance encompassed by the provisions of the covenant also is reasonable; B. The agreement contains a list of particular competitors as prohibited employers for a limited...
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...Marshall as long as we come to an agreement on a new contract. This understanding will provide us clarity on this partnership we are going to continue to have while doing business. Marshall is a good person and I would like to see his company continue to flourish as well as his spirituality. However if Marshall does not agree with the terms of a new contract business between us will cease. There are risks involved with discontinuing business with Marshall as he may file a lawsuit against me for various reasons. If it comes to that some legal defense I may have include; covenants of good faith, minor’s capacity to contract and fraud in the execution of a contract. First I would like to explore covenants of Good faith. Going into this deal with Marshall it began based off covenants of good faith and fair dealings. Per what we verbally discussed I would supply Marshall with a scheduled quantity of product. Since making that verbal agreement, I have consistently supplied Marshall with the products we have agreed upon on time. However Marshall has been habitually late with payments and even though I could impose fees as stated per the invoices sent, I have not. By Marshall trying to force me into a contract this could potentially hinder the performance of my company. Due to the demand of my new contract this will cause several components to restructure within the company. As stated in The Implied Covenant of ‘Good Faith’, “the covenant of good faith and fair dealing imposes...
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...Leases Introduction Definition A lease is an estate in land of defined duration. It is capable of being a legal estate under s.1(1)(b) of the Law of Property Act 1925 provided that it is a ‘term of years absolute’ (s.205) and is created in the correct manner (i.e. if exceeding three years by deed (ss.52 and 54). If not created by deed, the general rule is that the lease will be equitable in nature. A lease will usually carry with it an estate, but this is not necessarily the case: Bruton v London & Quadrant Housing Trust. Requirements for a lease There are three essential requirements where the first two of these requirements were confirmed by the House of Lords in Street v Mountford where Lord Templeman expressed ‘must be granted exclusive possession for a fixed or periodic term certain in consideration of a premium or periodical payments’ however this consideration was not necessary, as could be one peppercorn a year: Ashburn Anstalt v Arnold 1. The estate must be of a duration permitted for a leasehold estate; 2. The grant must give exclusive possession; and 3. The grant must have the correct formalities Duration of Leases Fixed Term Leases The vital feature of a fixed term lease is that there is a fixed maximum duration such as 1month, 3 years, 99 years, 999 years etc. It is perfectly possible, indeed normal, for a least to contain a forfeiture clause under which the landlord can terminate the lease prematurely if the tenant breaks any of the terms...
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...Manuacturing Company, a partnership duly organized and existing under and by the virtue of the laws of the Philippines, with its principal place of business at Balagtas, Batangas City. WITHNESSETH The LESSEE desires to lease from the LESSOR and the latter agrees to lease a space in a building located in Balagtas, Batangas City. NOW THEREFORE considering the foregoing premises the LESSOR and the LESSEE hereby agree as follows: 1. TERM OF LEASE- the term of this lease shall be five years beginning from 1st day of January until December 2019. This may be annually renewed by the contracting parties through the execution of the instrument provided that they agree with the same other stated stipulations. A letter of intent to renew this agreement must be submitted by the LESSEE to the LESSOR at least one (1) month before the term of the lease expires. 2. RENTAL- the monthly rental for the leased premises shall be PESOS: 10,000 payable every last day of the month. 3. USE OF THE PREMISE: the premise shall be used by the LESSEE for the plant site and main office. a. The LESSEE hereby acknowledges the leased premises in a good and tenantable condition and undertakes to keep and maintain in the same and orderly tenantable condition as it was the start of the contract. b. The LESSEE shall not keep on store in leased premises any explosive or inflammable materials or anything hazardous to health, safety and security of persons or property. c. The LESSEE shall not bring...
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...Notes for Real Property Assignment 2 INVALID RESTRAINT ON ALIENATION: There are five basic conditions that must be met in order for there to be an effective real covenant and equitable servitude: 1. It must be enforceable. To be enforceable it must not be too vague, it must not violate a statute or the constitution, it must not violate public policy, and it must meet the requirements under the statute of frauds. 2. It must touch and concern the land. 3. It must be intended to run. 4. There must be privity between the successive occupants. 5. There must be notice of the existence of a real covenant/equitable servitude. Privity is the legal term for a close, mutual, or successive relationship to the same right of property or the power to enforce a promise or warranty. It is an important concept in contract law. An equitable servitude is a term used in the law of real property to describe a nonpossessory interest in land that operates much like a covenant running with the land. However, covenants and equitable servitudes should not be confused. One may tell the difference based on the remedy plaintiff seeks. Holders of a covenant seek money damages, but holders of equitable servitudes seek injunctions. “four unities” 1) Time: Both parties must have received the property at the same time 2) Title: Both parties must have received the property via the same written instrument 3) Interest: Both parties must own the same estate in the property 4) Possession:...
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...1.) Implied covenant of good faith and fair dealings is meant as a protection for both parties. According to Law dictionary it is an unspoken agreement “that people will act in good faith and deal fairly without breaking their word, using shifty means to avoid obligations or denying what the other party obviously understood.” In the case of Guz I feel it applied to something beyond what is stated in the contract. Bechtel had an at will agreement meaning they rightfully could have fired Guz at any given time for any given reason. However, Guz was able to prove that Bechtel did not give him a fair opportunity to relocate to another department when his was closing, which was breach of their own personnel policies. After being with the company...
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