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 ?
On June 29, 2015 in Beijing 50 PFMs signed the Bank's Articles of Agreement at the Great Hall of the People, including Australia, Austria, Azerbaijan, Bangladesh, Brazil, Brunei Darussalam, Cambodia, China, Egypt, Finland, France, Georgia, Germany, Iceland, India, Indonesia, Iran, Israel, Italy, Jordan, Kazakhstan, Republic of Korea, Kyrgyz Republic, Lao PDR, Luxemberg, Maldives, Malta, Mongolia, Myanmar, Nepal, Netherlands, New Zealand, Norway, Oman, Pakistan, Portugal, Qatar, Russia, Saudi Arabia, Singapore, Spain, Sri Lanka, Sweden, Switzerland, Tajikistan, Turkey, the United Arab Emirates, the United Kingdom, Uzbekistan, and Vietnam.
Signing of the founding Articles of Agreement is the next step in the process of establishing the AIIB prior to its anticipated full operations at the end of 2015.
Members of the IMF have accepted the obligations set in the Articles of Agreement, which includes obviously their monetary sovereignty.
Aside from the Philippines, other prospective members that have yet to sign the articles of agreement were Denmark, Kuwait, Malaysia, Poland, South Africa and Thailand, sources said.
The Chinese government had said it planned to finalize the AIIB's articles of agreement by June.
The assessment was done in terms of the consultations which the IMF holds with its member countries annually as prescribed in Article IV of the Fund s Articles of Agreement.
Under IMF's Articles of Agreement, usually every year an IMF staff team visits the country to hold bilateral discussions with officials the country's economic developments and policies and upon return they prepare a report, which is the basis for discussion by the Executive Board.
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 IMF's Articles of Agreement set the various thresholds required for IMF decisions.
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.