Decoding Life Lease Agreements: All You Need to Know
Defining a Life Lease Agreement A life lease agreement (also referred to as simply a life lease) is a type of contract which many developers of retirement residences in Canada have utilized for years to provide a secure residence for senior citizens. Unlike normal rental leases or the sale of a home, life leases are designed to provide a residence to a senior citizen for the balance of their life, or until they vacate the residence. A life lease generally
The Rule Against Perpetuities in Practice: Examples and Applications
What is the Rule Against Perpetuities? The rule against perpetuities is a concept that functions to ensure that property rights attached to property in the present actually vest in the present and are not tied up forever until some situation takes place in the future.The rule is used to invalidate future interests which are too remote. In other words, the developers of the rule against perpetuities did not want property tied up indefinitely because in certain situations, it would prevent
Navigating Film Location Agreement Contracts: What Filmmakers Need to Know
Film Location Agreements Explained A film location agreement contract is a legal document that serves as the basis for an agreement between the owner of real estate or structures and a film producer for the use of that property as a shooting location. Such a document is vital in the world of filmmaking because it allows a studio to guarantee the legal right to access, shoot and film a project at a specific location and for a specified period of
A Guide to Advertising Contracts: Template & What to Include
Advertising Contract 101: The Basics Advertising is a way to market a brand, product or service. Most advertising is quite general in nature and only obliquely suggests that the customer contact the advertiser. There are also those advertisers who might want to engage one on one with clients and provide greater detail on a new product offering or specialty service. That so requires a more tailored approach. That’s where an advertising contract plays a key role.An advertising contract is a
Deciphering Insurance Contractual Adjustments
Defining Insurance Contractual Adjustment Insurance contractual adjustment is the process of adjusting the terms of an insurance contract following its issuance. The adjustment process is designed to modify the terms and conditions that apply to the coverage and claims handling in the event of a covered insured loss. The fundamental purpose of the adjustment process is to determine whether the loss is covered under the terms of the policy, to what extent it is covered, and the amount of the
The Definitive Guide to Boat Lease Agreement Templates
What Are Boat Lease Agreements In the most fundamental sense, a boat lease agreement, also known as a reservation, is a legally-binding agreement between the lessor (i.e. to push boat owner) and the lessee or renter (i.e. to push boat tenant). Essentially, it must spell out the basic terms that apply to the rental, such as the boat description, the amount of rent due every month, when it is due, and the duration of the lease.Because a lease will often
Leading Real Estate Law Cases: Significant Decisions and Practices
An Overview of Real Estate Law Real estate law is a set of legal principles that governs land and any permanent structures attached to it, such as homes and commercial buildings. It encompasses a wide range of matters involving the rights to use and possess land, as well as any issues that arise from the purchase or sale of land. As real estate disputes carry high stakes, it’s critical that individuals entering into such transactions are aware of the law
Primer on Missouri Animal Abandonment Laws
Summary of Missouri Animal Abandonment Laws The general idea behind animal abandonment laws is that Missouri does not allow people to purposely or willfully separate their animals from their owners. Any omission or failure to perform an act, such as providing food or shelter to an animal, is considered animal abandonment under the Animal Care Facilities Act . However, causing an agent, employee, or other entity to separate the property owner from his or her animals is also considered animal
Oil & Gas Contracts: Basic Provisions and Industry Insights
Basics of Energy Contracts Oil & Gas contracts are agreements between parties that strictly outline the specific obligations of each party. In most cases, oil & gas contracts are signed as an exchange of consideration (payment) for a specific task, good or service. These agreements are useful because they create a well-defined legal obligation for both parties. Fundamental to the oil & gas industry are contracts for land leases, joint ventures and supply agreements. These contracts ensure the legal framework
The Ins and Outs of Retained Executive Search Agreements: A Detailed Resource Guide
Retained Executive Search Agreement: Explained A retained executive search agreement is a written document that governs the relationship between a company or organization and an executive search firm retained to help identify, recruit, and place high-level candidates for key leadership positions. The hiring entity enters into this arrangement to fill these crucial roles in its operations. Typically, this agreement encompasses the entire process of search, recruitment, and placement of the selected candidate, from the initiation of the engagement to the