Agreement Accounting Meaning
Catso Co., a large U.S. supermarket network and PC Solutions LLC recently signed an agreement in which PC Solutions is committed to providing all the laptops, desktops and printers Catso needs in all of its equipment. This means that PC Solutions ensures that all users of the company have a computer available at all times. PC Solutions reserves a backup of new computers that will be immediately available to Catso if one of them breaks down. A few days ago, a virus attacked Catso`s network, damaging 10 of its computers. In accordance with the agreement with PC Solutions, they had to immediately deliver an additional 10pc, but they did not do so in 2 days and it was an obvious breach in their contract. Catso told the superiors of PC Solutions and they quickly resolved the case to avoid a catso lawsuit. Such an action will be very damaging for PC Solutions, as the contract is binding because of its nature. An example of a dependent contract could be an agreement to lease a property that is no longer necessary or can no longer be exploited for profit. Suppose a company signs a multi-year contract to lease office space, changes or shrinks while the agreement is still in effect, so that the offices for which it has no use are empty. Or think of a mining company that has signed a lease for coal or other commodity on land, but at some point, during the term of the contract, the price of that commodity falls to a level that makes extraction and marketing unprofitable. PARTENARIAT, contracts.
An agreement between two or more people to raise their money, property, work and skills, or either or all, to promote fair trade and to distribute the resulting benefits and losses among themselves, whether reasonable or not. Two Bouv. Inst. n. 1435; Watson on Partn. 1; Gow on Partn. 2; See Civ. Code de Lo. Section 2772; Code Civ. art. 1832; Forbes.
Inst. Scottish Law, Part 2, B. 3, 3, 184; Edit. Edin. 1722, 12. Dolmat, Civ. Law, 1, 85; 9. John. A. 488; It`s a tampon. B.
5, about 8; 2 H. Bl. 246; 1 H. Bl. 37; Mr. Ersk. Inst.B. 3, T.
3, 18; Tapia, Jurisp Elementos. Mercantil, 86; 5 Duv. Dr. Civ. Fr. t. 9, c. 1, n, 17; 4 Pard. Dr. Com.
966; Two Bell`s Com. 611, 5th edition; Aso and Mann. Inst.B. 2, tit. 1. Sometimes partnership is a moral being that consists of the reunification of all partners.