Conservation Easements are legally binding agreements that permanently restrict the development and future uses of real property in order to protect certain conservation values.
The donation of a conservation easement provides the opportunity for certain federal tax benefits. In order to take advantage of the income tax benefits, the donation must satisfy the Internal Revenue Code [...]
1. The terms “agreement” and “contract” mean the same thing. A memo of understanding, accepted proposal and purchase order are all examples of contracts.
2. How a contract is formed. A contract is formed when there is an offer by one party which is accepted by another party and there is a mutual exchange of value [...]