California Improvement Contract With Nike

State:
California
Control #:
CA-01900BG
Format:
Word
Instant download

Description

There are several basic elements that all Home Improvement Contracts must legally contain:

" A home improvement contract and any changes to the contract must be in writing and signed by all parties. The writing must be legible and printed forms must be readable.

" Before any work is started, the contractor must give the buyer a copy of the contract signed and dated by both the contractor and the buyer.

" Unless a larger typeface is specified in the law (Business and Professions Code 7159.), text in any printed form shall be in at least 10-point typeface and the headings shall be in at least 10-point boldface type.

" Except for a down payment, a contractor cant demand or accept payment for work or materials until the work is actually done or the materials are delivered. The down payment may not exceed $1,000 or 10 percent of the contract amount, whichever is less.

" If the contract includes a salespersons commission in the contract price, the payment to the salesperson shall be made on a pro rata basis in proportion to the schedule of payments made to the contractor.

" The contract must also contain the name and registration number of the salesperson.


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FAQ

If there are no differences between your federal and California income or deductions, do not file a Schedule CA (540), California Adjustments - Residents. If there are differences between your federal and California income or deductions, complete Schedule CA (540).

The deals usually run for 10 to 15 years and amount to millions of dollars. Most contracts consist of an annual cash payment as well as clothes, shoes, and equipment. Some even include bonus payouts if teams make it to post-season tournaments or win championships.

We proactively seek athletes to wear the Swoosh and represent the Nike brand. While we appreciate your love of sport and interest in Nike, we don't accept unsolicited sponsorship requests.

These deals are typically given to bench players and reserves ? and rather than being paid cash or royalties by the brand to wear their shoes, these athletes receive free merchandise throughout the year that can be worth $25,0000 or more, depending on the player.

Use Schedule CA (540), California Adjustments ? Residents, to make adjustments to your federal adjusted gross income and to your federal itemized deductions using California law.

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California Improvement Contract With Nike