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Showing posts with the label Agreement Drafting

Sublease: The Definitive Guide

Article by Shreyas Nair from WinSavvy's legal research team. Here's his LinkedIn bio for more information on him. This article provides in-depth information on -  What is a SubLease How a Sub-Lease Works Legalities Surrounding Subleases Types of Subleases, and How to Draft a Sub-Lease Agreement A sublease occurs when an existing tenant re-rents property to a new third party for a portion of the tenant's current lease contract. Subleasing may or may not be allowed under the terms of the original lease, and it may be subject to extra limitations imposed by the jurisdiction.  Even if a sublease is permissible, the original tenant is still responsible for the lease agreement's responsibilities, such as monthly rent payment.   What Is a Sublease? - An Overview A sublease is a legal contract between a tenant and a subtenant to rent a residential or business space for a set length of time.  In a sublet, the property owner rents to a tenant who wishes to leave without vio

Stock Purchase Agreement - All You Need to Know (US Law)

This guide is made in consonance with U.S. Law, which in this case, is the Securities Act of 1933. This is an informational post to help entrepreneurs and is not legal advice. Guide contents - What is a stock purchase agreement? The Purpose of a Stock Function Agreement When You Need to Use this Agreement When You Need Not Use this Agreement Essential Components of a Stock Purchase Agreement Instances when a Stock Purchase Agreement can be Used How to File a Stock Purchase Agreement Mistakes to Watch Out For Format of a Stock Purchase Agreement Stock Purchase Agreement Overview A stock purchase agreement is a contract signed by two parties when they buy or sell stock in a corporation in the US. Small firms that sell stock frequently use these agreements. Stock can be sold to buyers by either the corporation or its shareholders.  A stock purchase agreement is intended to safeguard you and your financial transaction, whether you are the buyer or the seller from unwanted legal outcomes. H

Finance Lease: The Complete Guide on Lease Financing

Finance Lease Brief Overview A finance lease, also known as a capital lease or sales lease, is a sort of commercial lease in which the legal owner of an asset is a finance firm, and the user leases the property or equipment for an agreed time period. The renting firm, usually a finance company, is referred to as the lessor in this legal contract, while the person who uses the asset is referred to as the lessee. When a lessee signs this agreement, they gain operational control of the asset. They accept liability for all risks and benefits involved with asset ownership although it is just a lease. The lease gives the lessee with the economic characteristics of asset ownership for accounting purposes. The item will be recorded as a fixed asset in the lessee's general ledger. In this case, the lessee will report the lease payment's interest as an expenditure. Finance Lease under US GAAP The agreement must fulfill at least one of the following characteristics to be classified as a f

Affidavit: The Complete Guide

This guide explains all the various facets of affidavit. The contents of the guide are - Affidavits Definition Functions of Affidavit When Should You Use an Affidavit?  When Should You Not Use an Affidavit?   Types of Affidavits.  Do I need a lawyer for drafting an affidavit?   How much does it Cost to Prepare an affidavit?   How to Write an Affidavit?   Common Mistake(s) While Writing an Affidavit   List of documents required for filing an affidavit.   What is an Affidavit? Affidavits may be defined as a written, sworn statement of fact voluntarily made by an person under an oath or affirmation administered by a person authorized to do so by law. The person who makes the affidavit is known as the  affiant or deponent and the person who administers it is usually a notary . Affidavits are often used in court proceedings. The person making the affidavit provides the Court with a written statement of details that he wishes to submit regarding the case at hand.  The person submitting the