Business Contract Paper

P.D & Associates
Attorneys at Barristers
678 Orlando Street, Suite 9800k
New York City
Business Contract

1. Parties
This contract is signed today 14/05/2018 between Cascades Inc, a body corporate under the Constitution of New York States by Rachel Erick, Chief Executive Officer (CEO) acting on behalf of Board of Management whose principal place of work (business) and mailing address is 440 South New York, Suite 100 City of New York 245 and Eng. Mike Harvey, contractor and President of Works Corporation, with the principal business and mailing address of 100, Suite 30 City of New York.

2. Consideration
In consideration of four hundred dollars ($400), Works Corporation agrees to supply 600 kgs of cattle skin tides for ten months to Cascades Inc. with an equal monthly supply of 60 kg. A payment of forty dollars ($40) will be made every month through JP Mogan Bank once the property is delivered in satisfactory conditions acceptable to Cascades Inc.

3. Title
The title to the said property (Cattle skin tides) vests with Cascades Inc. immediately all the monthly quantities have been delivered to the agreed venue and possession transferred thereof. At any other instance before these events (delivery and transfer of possession), the title will be assumed to be with Works Corporation. Payment is only made once the title is transferred from Works Corporation to Cascades Inc.

4. Duties and Termination
It is agreed that it is the duty of Works Corporations to source and transport 60 kg of cattle skin tide to Cascades Inc, every 4th day of the month beginning from September 4th, 2018 and running for ten (10) months. The parties also mutually contract to jointly inspect the property once it is delivered to Cascades Inc. before being accepted. The inspection will entail confirming that the tides are indeed of cattle skin and that the agreed amount of 60 kg is met. Immediately after the transfer of title, it will be the duty of Cascades Inc. to make payment of $40 to Works Corporations’ bank account in the J.P Morgan bank, not later than three (3) days thereafter.

The contract will be terminated under any of the following conditions. One, Cascades Inc. will be at liberty to terminate the agreement if Works Corporation, without any prior written notice, fails to deliver 60 kg of cattle skin to Cascades Inc. on 4th of every month and Cascades Inc. has not received any communication after the said date. Two, if during the inspection, it is detected that the tides are not of Cattle skin. Third, if the tides fail to weigh 60 kg and Works Corporation declines to accept liability. Lastly, if the delivery is made to any other offices of Cascades Inc. other than the one specified in this contract and Works Corporation is not willing to incur further additional costs to bring them to the agreed venue.

Works Corporation may also terminate the contract in the following instances. One, if Cascades Inc. after gaining the title of the property in question (60 kg of cattle skin every 4th day of the month) fails to remit $40 to Works Corporation J.P Morgan bank account after the 3rd day and Works Corporation has not yet received any prior written communication from Cascades Inc. Second, if Works Corporation finds in its J.P Morgan bank account an amount other than $40 from Cascades Inc, and there has not been any prior written notice. Lastly, if Cascades Inc. alleges to have made payment to Works Corporation through other means not specified in this contract or through other banks not mentioned in this contract. In cases of termination of the contract, each party will be at liberty to sue and claim damages as may be awarded by competent means provided in this contract.

The contract will also stand dissolved in any of the following scenarios. One, at the completion of ten months and each party, has met their obligations in full. Second, if any of the party rescinds the decision to contract with the other along the way and lastly, a mutual consent between the two parties to terminate the contractual relationship.

5. Security Agreement
Works Corporations at this moment grants security interests in all cattle skin tides receivable from their supplies at present and future dates as defined by Article IX of New York’s UCC.

6. Warranties
Works Corporations at this moment warrants that the cattle skin tides it supplies are suitable for any industrial consumption (Express warranty of Usage).

7. Risk of Loss
The risk of loss remains with Works Corporation until the good is transferred to Cascades Inc.

8. Waivers
Delays or failures of any of the parties to fulfill their obligations and provisions in this instrument will not operate as a waiver of any duty, responsibility or right. Any other waiver is only valid if availed in writing and signed by parties and covering the extents provided therein in writing.

9. Assignment and Delegation
This contract will be subjected to assignment and delegation by the parties to their agents. For instance, Cascades Inc. may delegate authority to any of its agents to carry out its obligations of inspections of goods, making payments or communicating to Works Corporation and any resolutions reached upon by the party or its agent and the other party shall be deemed binding to all. Equally, Works Corporation may assign or delegate the duty of delivering the goods to Cascades one of its agents and once such deliveries shall have been made, inspected and possession transferred, the corporation shall be deemed to have executed its mandate.

10. Remedies
This contract will be covered by Article II of New York UCC specific remedies. For example, in breach of any provisions of this contract, the innocent party will claim damages limited to the total amount of $400 in total or any amount less than that as may be determined by a competent means of dispute resolution provided in the contract.

11. Arbitration
In cases of disputes or differences and controversies that shall arise under or in connection with this agreement, a binding arbitration shall be formed by the rules of the American Arbitration Association (AAA) prevailing at the time of such disputes. Such binding arbitration shall be held in the arbitration offices in New York City, and both parties shall have the privilege to settle on one retired judge from AAA panel. In case of any difficulty to agree on the judge, a list of three available judges will be provided by the panel upon which each party shall strike their favorite and the remaining judge will assume the role of the arbitrator. Each party will bear its own attorneys’ fees and any other costs incurred about the dispute arising from the contract, unless otherwise explicitly stated.

12. Choice of Law
This contract will be governed by the laws of the state of New York.

13. Submission to Jurisdiction
Both Cascades Inc. and Works Corporation at this moment agree to submit to the jurisdiction of the judicial system of the state of New York for settling of any disputes arising out of or under this contract.

Therefore, the parties at this moment mutually agree as follows:

  • The scope of Services. Works Corporation shall, satisfactorily and adequately as determined by Cascades Inc, provide all the goods described in this provision.
  • Time of Performance. The performance required of the contract shall run from the 4th day of September 2018 to 4th July 2019.
    Compensation. Works Corporation shall be compensated by Cascades Inc. an amount of $40 every month upon successful delivery of the goods described herein.
  • Standards of Conduct Declaration. The Standards of Conduct Declaration of the contract is that the only good to be supplied by Works Corporation to Cascades Inc. will be cattle skin tide weighing 60 kg every 4th day of the month and that upon successful receipt and inspection of the same, Cascades Inc. will have proceeded and make a monthly payment of $40 to Works Corporation bank account maintained at the J.P Morgan.
  • Notices. Any notice required to be given by any party to in this contract shall be written and (a) delivered personally, or (b) sent by United States first class mail. Notices to Cascades Inc. shall be addressed to CEO Rachel Erick at the business and mailing address outlined in the first paragraph of this contract. Notice to Works Corporation shall be sent to Mike Harvey’s business and mailing address captured in the first paragraph of this contract. A notice shall be deemed to have been received three (3) days after mailing or at the time of actual receipt, whichever comes first.

Given the above provisions, the parties execute this contract by their signatures, on the
dates below with an immediate effect.

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Office of CEO Cascades Inc. Office of the President, Works Corporation
…………………………………… ………………………………………….
Dr. Rachel Erick Eng. Mike Harvey
Chief Executive Officer (CEO) President and Contractor
Date:14/05/2018 Date:14/05/2018