Articles of agreement


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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 ?
Given the needs of the Philippines for a massive infrastructure development, it is puzzling why up to today, the Philippines has not signed the Articles of Agreement. Is it because of the still ongoing territorial dispute over the West Philippine Sea?
These signed Articles of Agreement are designed to ensure that key decisions, such as operational and financial policies, can only be made a super majority of signatory countries, making sure that no single country is able to force through decisions which do not have widespread support.
Members of the IMF have accepted the obligations set in the Articles of Agreement, which includes obviously their monetary sovereignty.
A leading item on the agenda is governance - signing and unveiling the articles of agreement that were finalized at a late May negotiating session in Singapore.
"The press service of the Central Bank of Uzbekistan reports that operation of national currency exchange for the foreign currency is carried out by commercial banks in the prescribed manner in accordance with the obligations under Article VIII of the Articles of Agreement of the International Monetary Fund," said in a statement.
The Articles of Agreement (AOA) would be finalized and open for signature by member states in June 2015.
The signing of the MoU signifies that the parties have jointly decided to establish AIIB that would accelerate the negotiation process of the Articles of Agreement (AoA) for the bank says a message received from Beijing on Friday.
The five core chapters and five appendices of the original 2001 edition are updated in order to reflect the Data Template's 2009 modification following approval by the IMF Executive Board on strengthening the effectiveness of Article VIII section (5) of the IMF's Articles of Agreement. It also includes three new appendices on "Reserve Assets and Currency Unions;" "Frequently Asked Questions on the Characteristics of Reserve Assets;" and "Statistical Treatment of Lending to the IMF, Lending to IMF Managed Trusts, and Special Drawing Rights."
April 18, 2012 The Republic of South Sudan joined the International Monetary Fund (IMF) today when Finance and Economic Planning Minister Kosti Manibe Ngai signed the IMF's Articles of Agreement at a ceremony in Washington D.C.
The Board approved, in principle, to include the amendments, which International Monetary Fund Board of Governors agreed recently, in the IMF Articles of Agreement relating to Oman Quota increase under the 14th General Review of Quotas and amendment on reform of the Executive Board of the IMF.
From 2003 to 2010, the rotation was amongst the Founding Members of the IFSB who signed the Articles of Agreement when the IFSB was established in November 2002.
The visit was part of the IMF's surveillance under Article IV of the IMF's Articles of Agreement. The mission, headed by Catriona Purfield, met with officials from the Ministry of Finance, the Bulgarian National Bank, other government agencies, as well as representatives from the private sector, including banks and industry, unions, and non-government organizations.