Common Contracts
2 similar Operating Contract contracts
Title:Operating Contract • August 5th, 2024
This case spins around a complex agreement triad involving American Biscuit Company, Inc. (American Biscuit), Operators Incorporated (Operators), and Associated Biscuit, Inc. (Associated) tracing back to before World War II when American Biscuit was a thriving manufacturer. Due to financial difficulties post-war, it entered an Operating Contract with Operators on September 26, 1953, where Operators took over the business operations in exchange for handling American Biscuit’s debts and sharing profits. Later, a Tripartite Agreement was signed on June 12, 1954, introducing Associated into the arrangement, expected to share in the obligations and rights of Operators. Disagreements emerged concerning the responsibilities particularly towards creditors and operational costs, leading American Biscuit to sue for the cancellation of these agreements, alleging breach due to non-fulfillment of financial commitments by Associated and removal of machinery.
Title:Operating Contract • February 26th, 2024
This case spins around a complex agreement triad involving American Biscuit Company, Inc. (American Biscuit), Operators Incorporated (Operators), and Associated Biscuit, Inc. (Associated) tracing back to before World War II when American Biscuit was a thriving manufacturer. Due to financial difficulties post-war, it entered an Operating Contract with Operators on September 26, 1953, where Operators took over the business operations in exchange for handling American Biscuit’s debts and sharing profits. Later, a Tripartite Agreement was signed on June 12, 1954, introducing Associated into the arrangement, expected to share in the obligations and rights of Operators. Disagreements emerged concerning the responsibilities particularly towards creditors and operational costs, leading American Biscuit to sue for the cancellation of these agreements, alleging breach due to non-fulfillment of financial commitments by Associated and removal of machinery.
