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The general guidelines or procedures in the “simple fee” of an agreement refers to the citations of contracting parties to which the “legal rationality” of the agreement are form and parcel of the instruments to contract or bind the commitment. The legal rationality frames the “legal personality” of the contracting parties and therefore “binds” the underlying logical reasons why both parties has come to the agreements.

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The supplementary guideline and implying the primary rationality are the legal provisions within the contract that stipulates the sectioning of partnership’s description, obligations, and the legal procedures to the overall articulation of the contract. On the “Amendments clause”, it may stipulate the provisions stating that, “No amendments, modifications or alterations to this Agreement shall be valid or binding for either party unless otherwise expressed in writing and executed with the same formality as this Agreement”.

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This provision stipulates the “safety nets” in the event of either one of the contracting party shall breach the agreement, in which Rule 1004 under USC 303(b) (3) shall be applicable. On the “Effectivity and Duration clause”, it may stipulate the provisions stating that: “the parties hereby agree the covenant to issue and/or execute and sign whatever documents, papers and instrument necessary to execute the Agreement. The partnership discussed in this Agreement shall be executed on the basis of the provisions of this Agreement that shall be subject to all applicable and appropriate government laws, rules and regulations”.

This clause to the agreement enforces the “executors” obligations, compliance and legal liabilities. Conclusion Corporate governance is one of the most critical of undertakings in the legal dispensation of Securities and Exchange Commission or even the United Nations International Law on Partnership. The diverse characteristics of corporate partnership could be a global challenge in the application of both public and private laws. By legal jurisprudence, it may be common understanding that partnerships are bound in a documented legal agreement.

However, the insatiable longing for profit through merging and subsidiary operations in the corporate world defeats the legal purposes of jurisprudential application and legal liabilities in committing a signed contract of agreement. Another consideration is the juridical functions of the Securities and Exchange Commission in every country that has no jurisdiction over civil and criminal liabilities, even in anomalous discharge of incorporation or corporations, much more with the acts on the breach of contract.

On the other hand, the government’s anti-trust policy, mercantile law and commerce that regulate the perpetuation of monopoly in business or partnership ventures may not be a deterrent law and may not empower the prosecution of the so-called “corporate criminals”. What could be then necessary to the overall formulation of termination agreements is the enactment of a state policy that strongly employs criminal liability in the breach of contract.

In this case, the legal procedures in obligations and contracts shall cover all the binding agreements, not only the corporate partnership, specifically on employment and rendering of labor services. Thus, private accountability may be highlighted in ensuring legal regulations of the corporate governance.

References

Cornell University Law School (2008) ‘US Uniform Commercial Code, Article 9 (201), Secured Transactions’. Retrieved 14 May 2008 from http://www. law. cornell. edu/ucc/9/9-201. html. Cornell University Law School (2008). ‘Federal Rules on Bankruptcy and Procedures: Rule 1004, USC 303(b) (3)’. Retrieved 14 May 2008 from http://topics. law. cornell. edu/wex/contracts. Sliwa, C. (2005). ‘Sears, CSC fighting over IT contract termination fees’. Computer World (2008). Retrieved 14 May 2008 from http://www. computerworld. com/action/article. do? command=viewArticleBasic&articleId=101910. Sliwa, C. and Machilis, S. (2005) ‘Update: Sears ends $1. 6B outsourcing pact with CSC’. Computer World (2008). Retrieved 14 May 2008 from http://www. computerworld. com/action/article. do? command=viewArticleBasic&articleId=101774.

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