Repurchase agreement

Moonbeam and Tang both have rights and obligations regarding the June instalment as one buyer’s right is a seller’s obligation and vice versa. Both parties are contracting states and thus the Contracts for International Sale of Goods (CISG) is applicable to this question. A contract is formed when acceptance of an offer is met according to the CISG. As per Art14 Moonbeam clearly accepts Tang’s offer to purchase the hairdryers as Moonbeam’s intent to be bound is evident through agreeing to sell…

A contract is an agreement that legally binds the parties involved. Alternatively, it can be defined as a promise or a set of the same that are enforceable by law. By getting into an agreement, parties acquire obligations and rights which are enforceable by the court of law. The main method through which such agreements may be enforced is by the award of damages although in many cases the court may order the defaulting party to perform a specific action to compensate the aggrieved party. In…

This is seen in the case of M v M, where a prenuptial agreement between the parties was existing; however this reduced the wife’s final award. The courts applied the principle used in K v K where the courts “set out pertinent factors which were necessary to determine whether the agreement was binding or influential”. Having considered the questions, the courts held the wife’s entitlement to a lump sum of £125,000. The agreement had been settled for a lump sum of “£100,000 within 5 years of…

Introduction There are two issues on which Stephanie requires advice - whether the barge is a chattel or a fixture and whether there is a valid contract in place between herself and Wangle. If the barge has become a fixture of the land and the contract meets all the necessary formalities, then Stephanie may have a legal right to the barge and may have a cause of action against Wangle if he refuses to go through with the transaction. Distinguishing between Chattels and Fixtures The Law of…

More and more seniors are choosing to swap their suburban homes for apartment living. The experts at Murphy Properties, a company that offers apartment rentals in Connecticut and Rhode Island, say that today's seniors are healthier and more mobile than their predecessors and are choosing to remain in the workforce past traditional retirement age. Many are eager to explore a new lifestyle, and they're trading the responsibilities of home ownership for the freedom of apartment living. Apartment…

Landlord-Tenant Law Landlords and tenants both have rights and accountabilities in the development of an ownership agreement. All parties must have a clear understanding of what the lease terms mean to avoid issues. When a property owner and a renter signs on leasing a house, trailer, or etc., many things need to be made clear, including the cost of the payment, the date the rent due, limits on late fees, length of the ownership, if he or she pays for utilities (like gas, electricity, or etc.)…

In certain states in the United States, there has recently been an influx in the population in some cities. Since there has been an increase in population, low income families are being forced to move out of the city and into more affordable housing. Affordable housing is usually located outside the city limits. In order to solve this problem there has been various solutions implemented to keep affordable housing within city limits. One solution has been federal project-based rental assistance…

Tiny houses are all the rage right now because they offer people an inexpensive and concentrated living experience. However, building codes and real estate laws often make it hard for people to place their homes. Read on to understand how you can get your home ready to go. The Basics Of Tiny Houses And Building Codes There are a variety of building codes that impact the building and placement of tiny houses. For example, many states and cities have a minimum living area that a home can legally…

Condos offer conveniences that townhomes and single family homes do not. A condominium is property individually owned and also shared within the condo community. As a condo owner you will own the "inside" of your property (everything inside your door) but share common areas with your neighbors. So you own your kitchen, but not your roof or the hallway leading to your door. Your condo association, collects monthly fees from you to manage and maintain the common areas. That means the condo…

It is no uncommon for a tenant to initially agree to a no pet contract. A few months later, they may then decide to get a pet. How they decide to handle the situation can be very telling. If they are honest and open with you by asking for your permission, then they are more than likely willing to work with you to keep the pet. However, if they hide the pet from you, then this can be a negative sign. Once you confirm that your tenants have a pet living in their rental space without your…