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In law, a recital (from Latin: recitare, "to read out" [1]) consists of an account or repetition of the details of some act, proceeding or fact. Particularly, in law, that part of a legal document—such as a lease , which contains a statement of certain facts—contains the purpose for which the deed is made.
Notarial certificates come in full forms or short forms. A full form includes preamble information like the date, venue, appearer's appearance, proof of identification, and so forth, as well as the principal attestation. A short form usually only includes the venue, date, and "attestation clause". Both are then ended with a "testimonium clause".
A set of heads of agreement, heads of terms, or letter of intent is a non-binding document outlining the main issues relevant to a tentative sale, partnership, or other agreement. [ 1 ] A heads of agreement document will only be enforceable when it is adopted into a parent contract and is subsequently agreed upon, unless otherwise stated.
Buy–sell agreement can be in the form of a cross-purchase plan or a repurchase (entity or stock-redemption) plan. For greater neutrality and effectiveness of the buy–sell arrangement, the service of a corporate trustee is recommended. Profit or loss from a buy-sell agreement may trigger tax conquencess and taxable income. [2]
Meeting of the minds (also referred to as mutual agreement, mutual assent, or consensus ad idem) is a phrase in contract law used to describe the intentions of the parties forming the contract. In particular, it refers to the situation where there is a common understanding in the formation of the contract.
Law portal; A side letter or side agreement or side letter arrangement is an agreement that is not part of the underlying or primary contract or agreement, and which some or all parties to the contract use to reach agreement on issues the primary contract does not cover or for which they require clarification, or to amend the primary contract.
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