What are Term Contracts? A "term contract" is a contract that lasts for a specified length of time. "Term contracts" therefore typically include an express, specific duration such as "3 years," "2 months," or "4 weeks" (rather than an amount of days). The term of a term contract can run for any period of time.The primary purpose of term contracts […]
Understanding Washington State Easement Laws: A Complete Guide
Washington State Easement Laws Overview Easements in Washington State are defined as the limited right to make use of another person’s land in a manner that is not inconsistent with the right of the owner; an easement thus constitutes a servitude on the land which may be owned by one person over the property of another. Easements may be created […]
The Lowdown on Prepayment Contract Samples: A Full Overview
What Is a Prepayment Contract? The prepayment contract is a form of commercial contract that is used when one party wishes to prepay the other for a good, service or even loan. These types of contracts are often used in relation to product sales. They can also be used in situations involving the lending or borrowing of money, services or […]
Illegality in contracts: Concepts and implications
What does “illegality” mean in contracts? Illegality in contracts refers to the circumstance when an agreement is struck between two or more parties, the contents of which run foul with the provisions of a written law. The penalties attached to the breach of a written law would be visited on the parties to the contract, as the outcome of illegality […]
Understanding Non-Compete Agreements in South Carolina
Defining the Non-Compete Agreement Non-compete agreements are contracts between an employer and an employee that typically restrict the employee’s ability to work for a competing business following the termination of employment. In South Carolina, a non-compete agreement is only enforceable if it meets certain conditions, including that the agreement is limited by (1) duration; (2) geographical area; or (3) scope […]
Non-Competes in Illinois Explained
What is an Illinois Non-Compete Agreement? What is a non-compete agreement? In Illinois, a non-compete can be used in any contract. So while the name is used to describe a non-compete, it also can refer to agreements such as a non-solicit, non-poach or confidentiality/invention assignment. For the sake of simplicity we will focus on an employee non-compete to keep it […]
When Sales Commission is Considered Lawfully Earned
How Is Sales Commission Defined A sales commission is compensation based upon a percentage of revenue from a sale or sales. In many cases, a sales commission is a commission on gross revenues, although it may be based upon net revenues inclusive or exclusive of certain costs and fees. Depending on how successfully the employee performs, and depending on how […]
Understanding Photographers’ Licensing Agreements: The Ultimate Guide
What is a Photographer’s Licensing Agreement? The definition of a photography licensing agreement is simple. It is an agreement between the photographer and a third party that allows the licensee to use a particular photograph for a set period of time, for a specific purpose. In this way, the licensee obtains some of the rights that the photographer has, under […]
Navigating Consumer Debt: How a Law Firm Can Assist
What is Consumer Debt? Consumer debt is defined as any debt incurred as a result of purchasing goods with the expectation that you or someone else who owes the debt will pay them off. Most of the purchases basic consumer goods and services, and consumers are left to pay off the costs of the products and services over time. While […]
Exploring the World of Postnuptial Agreements in California: A Detailed Examination
Defining the Postnuptial Agreement The definition of a postnuptial agreement is a document executed by couples after marriage that outlines how their assets, debts, and support (spousal and child-related) will be handled in the event of divorce. While they serve similar purposes to prenuptial agreements, they are generally viewed as a solution for couples who did not create a prenuptial […]