[Contract] Investment Agreement

Discussion in 'Denied Contracts Archive' started by Ardent15, Jul 13, 2020.

Thread Status:
Not open for further replies.
  1. Ardent15

    Ardent15 Builder
    Builder ⛰️ Ex-Mayor ⚒️⚒️ Premium Upgrade

    Joined:
    Jun 4, 2020
    Messages:
    8
    Trophy Points:
    15,240
    Gender:
    Male
    Ratings:
    +5
    IGN:
    @Ardent15

    Users Involved in this Contract:
    @TankNoodle

    General Purpose of Contract:
    This agreement states that @Ardent15 will sell 10,000 shares of Delta Financial Group to @TankNoodle for $250,000 ECD. @TankNoodle will be entitled to a percentage of the company's monthly profits relative to his interest in the company.

    I (the contract initiator) agree to the following terms, and agree that my failure to complete such terms will result in a breach of contract, as outlined in Rule 3:
    - @Ardent15 will release monthly profits to @TankNoodle 14 days after they have been requested.
    - @Ardent15 agrees to notify @TankNoodle 45 days prior to any new shares being issued by the company.

    The other user(s) involved with this contract must agree to the following terms:
    - @TankNoodle must transfer $250,000 ECD to @Ardent15 either in-game or via forum transfer within 72 hours of this agreement.
    - If @TankNoodle has a financial interest in another financial institution on EcoCityCraft, he must disclose this prior to acceptance of this contract.
    - @TankNoodle is aware of the risk involved in an investment with Delta Financial Group, and understands that he is entitled to a portion of Delta's monthly profits or losses, and may withdraw this money with 14-day notice.

    I agree that the terms in this contract are subject to all of EcoCityCraft's rules, including the rules listed specifically in this forum. I understand that the contract may be affected by future changes in EcoCityCraft rules and server updates, and I accept that due to the possibility of such changes, this contract may be at my own risk. I understand that the contents of this contract are subject to staff assessment, review and approval before it is a binding contract under EcoCityCraft rules. I accept that action may not be taken in case of a breach of contract if appropriate and sufficient evidence is not provided of such.:
    I agree.
     
  2. TankNoodle

    TankNoodle Former Soviet GameAdmin
    President ⛰️⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐ II ⭐ Gameplay Architect Premium Upgrade

    Joined:
    Apr 8, 2020
    Messages:
    1,131
    Trophy Points:
    46,010
    Gender:
    Male
    Ratings:
    +314
  3. zr2002

    zr2002 Nub Moderator
    Resident ⛰️ Ex-EcoLeader ⚜️⚜️⚜️ Premium Upgrade

    Joined:
    Aug 17, 2014
    Messages:
    5,474
    Trophy Points:
    63,660
    Gender:
    Male
    EcoDollars:
    $0
    Ratings:
    +3,161
    @Ardent15 after speaking with other staff members, we've decided that this contract simply isn't enforceable. There's no way for us to determine what percentage of your monthly profits @TankNoodle will be receiving, not to mention that there's no way to ensure that you're reporting your monthly profits properly and honestly (not saying you wouldn't, there's just really no way to confirm that the reported profits are genuine). As an example of an investment contract that is enforceable and that we'd approve I'm going to point you in the direction of this contract here to use as an example. If you have any questions about what is or isn't enforceable in a contract/agreement please feel free to forum pm me or another staff member so we can advise you.

    Locked - Contract Denied
     
Thread Status:
Not open for further replies.