Los Angeles California Agreement that Statement of Account is True, Correct and Settled

• Category: Contracts - Creditors
• State: Multi-State
• County: Los Angeles
• Control #: US-1107BG
• Format: Word; Rich Text

Description

A mineral lease is an agreement between a property owner and another party who is allowed to explore and extract minerals that are found on the property for a stated time. The property owner receives payments based on the value of the minerals that are extracted. In other words, a mineral lease is a right given to use land for the purpose of exploration for a particular period of time or indefinitely upon payment of royalties to the landowner. Los Angeles California Agreement that Statement of Account is True, Correct and Settled In Los Angeles, California, an Agreement that the Statement of Account is True, Correct and Settled serves as a legally binding contract between parties involved in a financial transaction. This agreement outlines the mutual understanding that all parties acknowledge the accuracy and finality of a statement of account pertaining to their financial dealings. It is significant in various contexts such as business transactions, loans, partnerships, or any situation where a statement of account is involved. The Agreement that the Statement of Account is True, Correct and Settled typically includes the following key elements: 1. Parties Involved: The agreement clearly states the names and contact information of all parties involved. This ensures that there is no ambiguity regarding the parties undertaking the agreement. 2. Date and Reference: A specific date of the agreement's execution is mentioned along with reference to the original statement of account, providing clarity about the exact document being addressed. 3. Recitals: This section briefly describes the background and purpose of the agreement. It may outline the previous interactions and transactions between the parties, emphasizing the need for the agreement. 4. Terms and Conditions: The agreement lays out the terms and conditions that the parties agree to abide by. This includes a comprehensive review of the statement of account, checking for any errors, omissions, or discrepancies. It specifies that all parties have carefully scrutinized the document and find it true, correct, and settled as per the agreed terms. 5. Consideration: This section mentions any financial considerations or obligations that the parties have towards each other, such as settlement of outstanding debts or payments. 6. Liability and Indemnification: The agreement may include clauses that hold each party liable for their respective obligations and indemnify each other against any claims or losses arising from the statement of account. Types of Los Angeles California Agreement that Statement of Account is True, Correct and Settled: 1. Business Agreement: This type of agreement is commonly used in commercial transactions where businesses or organizations settle outstanding financial accounts. It ensures that both parties involved recognize the statement of account as accurate, final, and resolved. 2. Loan Agreement: In the context of banking and lending, this agreement confirms that the borrower and the lender agree upon the accuracy of the statement of account, signifying that all payments, interests, and charges have been correctly calculated, and the loan is settled accordingly. 3. Partnership Agreement: When partners dissolve a business partnership, they may use this agreement to validate the accuracy and finality of the statement of account, ensuring that all assets, liabilities, and profits are accurately listed and the partnership is satisfactorily dissolved. In conclusion, the Los Angeles California Agreement that the Statement of Account is True, Correct and Settled is a significant legal document that establishes the undeniable acceptance and accuracy of a statement of account. It serves to bring transparency and finality to financial transactions, safeguarding the interest of all parties involved.

Los Angeles California Agreement that Statement of Account is True, Correct and Settled In Los Angeles, California, an Agreement that the Statement of Account is True, Correct and Settled serves as a legally binding contract between parties involved in a financial transaction. This agreement outlines the mutual understanding that all parties acknowledge the accuracy and finality of a statement of account pertaining to their financial dealings. It is significant in various contexts such as business transactions, loans, partnerships, or any situation where a statement of account is involved. The Agreement that the Statement of Account is True, Correct and Settled typically includes the following key elements: 1. Parties Involved: The agreement clearly states the names and contact information of all parties involved. This ensures that there is no ambiguity regarding the parties undertaking the agreement. 2. Date and Reference: A specific date of the agreement's execution is mentioned along with reference to the original statement of account, providing clarity about the exact document being addressed. 3. Recitals: This section briefly describes the background and purpose of the agreement. It may outline the previous interactions and transactions between the parties, emphasizing the need for the agreement. 4. Terms and Conditions: The agreement lays out the terms and conditions that the parties agree to abide by. This includes a comprehensive review of the statement of account, checking for any errors, omissions, or discrepancies. It specifies that all parties have carefully scrutinized the document and find it true, correct, and settled as per the agreed terms. 5. Consideration: This section mentions any financial considerations or obligations that the parties have towards each other, such as settlement of outstanding debts or payments. 6. Liability and Indemnification: The agreement may include clauses that hold each party liable for their respective obligations and indemnify each other against any claims or losses arising from the statement of account. Types of Los Angeles California Agreement that Statement of Account is True, Correct and Settled: 1. Business Agreement: This type of agreement is commonly used in commercial transactions where businesses or organizations settle outstanding financial accounts. It ensures that both parties involved recognize the statement of account as accurate, final, and resolved. 2. Loan Agreement: In the context of banking and lending, this agreement confirms that the borrower and the lender agree upon the accuracy of the statement of account, signifying that all payments, interests, and charges have been correctly calculated, and the loan is settled accordingly. 3. Partnership Agreement: When partners dissolve a business partnership, they may use this agreement to validate the accuracy and finality of the statement of account, ensuring that all assets, liabilities, and profits are accurately listed and the partnership is satisfactorily dissolved. In conclusion, the Los Angeles California Agreement that the Statement of Account is True, Correct and Settled is a significant legal document that establishes the undeniable acceptance and accuracy of a statement of account. It serves to bring transparency and finality to financial transactions, safeguarding the interest of all parties involved.