articles of agreement


Also found in: Dictionary, Thesaurus, Wikipedia.
See: contract

ARTICLES OF AGREEMENT, contracts. Relate either to real or personal estate, or to both. An article is a memorandum or minute of an agreement, reduced to writing to make some future disposition or modification of property; and such an instrument will create a trust or equitable estate, of which a specific performance will be decreed in chancery. Cruise on Real Pr. tit. 32 c. 1, s. 31. And see Id. tit. 12, c. 1.
     2. This instrument should contain: 1, the name and character of the parties; 2, the subject-matter of the contracts; 3, the covenants which each of the parties bind themselves to perform; 4, the date; 5, the signatures of the parties.
     3.-1. The parties should be named, and their addition should also be mentioned, in order to identify them. It should also be stated which persons are of the first, second, or other part. A confusion, in this respect, may occasion difficulties.
     4.-2. The subject-matter of the contract ought to be set out in clear and explicit language, and the time and place of the performance of the agreement ought to be mentioned and, when goods are to be delivered, it ought to be provided at whose expense they shall be removed, for there is a difference in the delivery of light and bulky articles. The seller of bulky articles is not in general bound to deliver them unless he agrees to do so. 5 S. & R. 19 12 Mass. 300; 4 Shepl. 49.
     5.-3. The covenants to be performed by each party should be specially and correctly stated, as a mistake in this respect leads to difficulties which might have been obviated had they been properly drawn.
     6.-4. The instrument should be truly dated.
     7.-5. It should be signed by the parties or their agents. When signed by an agent he should state his authority, and sign his principal's name, and then his own, as, A B, by his agent or attorney C D.

References in periodicals archive ?
The articles of agreement have been amended before and it is therefore a process familiar to the organization's members.
Two of the purposes of the IMF, as stated in its Articles of Agreement, are to facilitate the expansion and balanced growth of international trade, and thereby to contribute to the promotion and maintenance of high levels of employment and real income; and to assist in the establishment of a multilateral system of payments in respect of current transactions between IMF members.
Following the IMF's board of governors' approval in December 2010, the next step is for member countries to accept the proposed quota increases and the amendment to the articles of agreement.
The country's Minister of Finance and Economic Planning Kosti Manibe Ngai signed the IMF's Articles of Agreement at a ceremony here in the presence of IMF Managing Director Christine Lagarde.
But everyone cannot have a weak currency at the same time, so, in 1944, responsibility for preventing beggar-thy-neighbor depreciation was assigned to the International Monetary Fund, whose Articles of Agreement mandate it to "exercise firm surveillance over the exchange-rate policies" of member countries.
The cabinet approved the signing of Articles of Agreement for establishment of ECO Reinsurance Company as agreed between Pakistan, turkey and Iran in the high level expert group meeting of May 207 held at Islamabad.
Past calls for a merger have been made without specifying the necessary details, but the basic approach was a complete fusion of the Bretton Woods institutions under a new Articles of Agreement.
WASHINGTON, June 26 /PRNewswire/ -- In a concerted action, the Governments of Benin, Burkina Faso, Cameroon, Chad, the Congo, Cote d'Ivoire, Equatorial Guinea, Gabon, Mali, Niger, Senegal, and Togo formally notified the International Monetary Fund (IMF) that they have accepted the obligations of Article VIII, Sections 2, 3, and 4 of the IMF Articles of Agreement, effective June 1, 1996.
Delegates from 57 countries gathered in Beijing to witness the signing of the articles of agreement for the Chinese-led development bank, which is expected to rival institutions such as the World Bank and the Asian Development Bank.
Islamabad -- Finance Minister, Senator Mohammad Ishaq Dar left here for Beijing to attend the signing ceremony of Articles of Agreement (AoA) on Asia Infrastructure Investment Bank(AIIB) being held on Monday, 29th of June, says a press release.
Lower house of Kazakhstan's parliament has ratified today the amendments to the Articles of Agreement of the International Monetary Fund.
IILM was created pursuant to the International Islamic Liquidity Management Corporation Act of Malaysia, and is governed by the Articles of Agreement among its members.