Agreement Receivable Statement With Multiple Conditions In Travis
Category:
State:
Multi-State
County:
Travis
Control #:
US-00037DR
Format:
Word;
Rich Text
Instant download
Description
The Agreement receivable statement with multiple conditions in Travis outlines a factoring agreement between a factor and a seller regarding the assignment of accounts receivable. This document is designed to facilitate the sale of a seller's receivables to the factor, providing the seller with immediate cash flow. Key features include the detailed assignment of accounts receivable, provisions for sales and delivery of merchandise, credit approval processes, and assumptions of credit risks. It outlines the responsibilities of both parties, including record-keeping, profit and loss statements, and rights under contractual agreements. Users must fill out sections specific to the factor and client, including names, addresses, and terms for commissions and interest rates. Editing can be done to tailor the terms to meet specific needs. This Agreement is especially useful for attorneys, owners, and financial professionals when securing financing or managing credit risks. Paralegals and legal assistants will find it helpful as a foundational contract to ensure compliance with legal standards and business practices.
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FAQ
Elements -- Consideration and Mutual Assent To be legally binding as a contract, a promise must be exchanged for adequate consideration. There are two different theories or definitions of consideration: Bargain Theory of Consideration and Benefit-Detriment theory of consideration.
