A property management agreement is between a property owner and a manager that is hired to maintain the property. It is common for the manager to be paid a percentage (%) of the total revenue generated from the property plus fees for maintenance, leasing, and evicting tenants.
A software development non-disclosure agreement (NDA) allows a company to safely share confidential technology with a third party. This is common when working with a contractor that agrees to help improve or collaborate on the owner’s software. If the contractor shares the software information, they could be liable for legal and financial damages.
A demand letter for payment is a request for money owed that is commonly the last notice to the debtor. The party owed should include language that motivates the debtor to make a payment. Incentives, such as a discount if the debtor decides to pay or threatening to send the debt to collections occasionally can help to influence resolving the matter.
A cease and desist letter is sent to immediately stop an individual or entity from continuing a specified action. This is commonly the last resort before a lawsuit, usually, an injunction is filed. The letter should reveal the grounds of the claim and the infringing party’s right to cure the issue. A response from the recipient is required, within a set time frame, to acknowledge or refute the claims. Afterward, if the infringing party continues the unauthorized use or continues the actions stated in the cease and desist letter, a lawsuit may be filed in the court of proper jurisdiction. Certified Mail with Return Receipt – Highly recommended to verify that the letter was delivered. This receipt may be used later if a lawsuit is filed to show the defendant has issued the notice.
A business purchase letter of intent outlines a proposed purchase arrangement between a buyer and seller. At the decision of the buyer and seller, the letter may be considered binding, although, usually the letter sets up the framework of a formal agreement that will be drafted at a later time.
A rent-to-own lease agreement is a standard rental contract with an added option for the tenant to purchase the property. This arrangement is common for homeowners seeking to collect rent on their homes and possibly sell to the tenant at a pre-negotiated price. Financing is commonly provided by the owner if they have no mortgage on the property.
A family loan agreement is made between a borrower and lender that are related by blood or marriage. It is set up to be a simple agreement between the parties that outlines the money borrowed and the repayment terms. Generally speaking, interest is not commonly charged between family members. If it is, the lender cannot charge more than the Usury Rate allowed in the state where the parties reside.
A loan agreement is a written agreement between a lender that lends money to a borrower in exchange for repayment plus interest. The borrower will be required to pay back the loan in accordance with a payment schedule unless a balloon payment is required.
A letter of intent or “LOI” is non-binding between two (2) parties who intend to create a formal agreement at a later time. The letter expresses the “intent” of both parties that will be the basis of a formal contract. It is recommended to include a clause stating whether the document is binding or non-binding to avoid legal issues. If not, a court may deem any of the terms mentioned in the letter as binding and enforceable.
A website design non-disclosure agreement (NDA) is used to protect confidential information that a company shares with a web designer. The confidential information should be described as detailed as possible. If the web designer shares any source code, backend data, or any other proprietary information, they could be held liable and subject to damages.