The Contract Service Agreement (where the Seller Continues to Operate Properties Sold to Buyer) form, is a contract form between a seller and buyer concerning the provision by the seller of certain operating, accounting and administrative services in connection with the oil and gas producing properties sold to the buyer pursuant to a purchase and sale agreement.
Washington Contract Service Agreement when Seller Continues to Operate Properties Sold to Buyer
Category:
State:
Multi-State
Control #:
US-OG-470
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Contract Service Agreement When Seller Continues To Operate Properties Sold To Buyer?
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FAQ
The duty to act in the best interests of the client is arguably the most important duty that licensees owe to their clients. In practice, the duty to act in the best inter- ests of a client is relatively easy to understand.
A licensee owes a fiduciary duty to the client and shall protect and promote the client's interests. The licensee shall also deal fairly with all other parties to a transaction.
Even where a broker or salesperson is acting for his or her own account, i.e., as a principal to the transaction, duties are owed to the other principal including the obligation to act honestly and fairly, in good faith, and without fraud or deceit.
A strong purchase agreement will include: Buyer and seller names and contact information. Description of goods, services, or property being purchased. Payment amount, dates, and method. Liability of each party in the case of loss, damage, or delivery failure.
Fiduciary duties are legal obligations that require an individual or entity to act in the best interests of another party. In real estate, agents have a fiduciary duty to their clients, which means that they must act in the best interests of their clients and not their own interests.
The agent has the duty of undivided loyalty toward their principal, which includes the following obligations: To perform. The agent must act on the principal's behalf and perform their duties in ance with the instructions and commands of the principal. To obey.
(1) Notwithstanding any other provision of this chapter, a broker may act as a dual agent only with the written consent of both parties to the transaction after the dual agent has complied with RCW 18.86. 030(1)(f), which consent must include a statement of the terms of compensation.
Yes. Retail sales tax applies to a service contract or warranty sold to a consumer.