In the interest of the public welfare and to promote conversation and increase the ultimate recovery of oil, gas, and associated minerals from the Unit and to protect the rights of the owners of interest in the lands included in the Unit, it is deemed necessary and desirable to enter into this Agreement, in conformity with (Applicable Statutory reference), to unitize the Oil and Gas Rights in and to the Unitized Formation in order to conduct a secondary recovery, pressure maintenance, or other recovery program as provided for in this Agreement.
Wisconsin Unit Agreement
State:
Multi-State
Control #:
US-OG-775
Format:
Word;
Rich Text
Instant download
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A contract is an agreement between parties, creating mutual obligations that are enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
- A legislative committee signed off Wednesday on a new two-year contract for Wisconsin's state troopers. The deal covers the biennium that ended June 30. The contract calls for a 2% across-the-board wage increase in each year, with lump-sum payments equal to 2% increase for all hours worked dating back to Jan.
Generally, to be legally valid, most contracts must contain two elements: All parties must agree about an offer made by one party and accepted by the other. Something of value must be exchanged for something else of value. This can include goods, cash, services, or a pledge to exchange these items.
A contract is a legally binding agreement between two or more parties. Once signed, this contractual agreement creates a promise that certain rights and obligations will be fulfilled by each party. In essence, a promise is at the heart of every contract.
?The critical difference is that contracts are recognized as legally enforceable promises to perform. Some agreements?such as clickwrap agreements?have been held to be legally enforceable, but those agreements must have certain legal terminology that indicates the parties' intent to enter into a binding agreement.
A contract is an oral or written agreement between two or more persons to take or refrain from taking some action. A legally enforceable contract is one in which both (or all) parties to the contract provide something of value to the other party or parties in the agreement.
Wisconsin was the first state to grant collective bargaining rights to public employees and, for better or for worse, it has now decided to place stark limitations on these rights and has been supported with the authority to do so by both the Wisconsin Supreme Court and the U.S. Court of Appeals for the Seventh Circuit ...