Agreement

WASHINGTON - President Obama, who campaigned on raising taxes on the wealthiest Americans, has fulfilled that promise even before his next term starts. The announcement Monday night of Senate agreement on a compromise to avert part of the "fiscal cliff" meant that for the first time in two decades, Republicans in Congress were preparing to vote in favor of a bill that raised taxes, an extraordinary concession to the nation's fiscal woes and the president's reelection. But Obama's victory fell short of what he had campaigned for, and came at a high cost.

Question: I am curious as to whether there is any law regarding the charges and fees that can be made in connection with layaway merchandise. I bought a silver tea service from the David Orgell store in Northridge. The price was about $800 and I paid $170 down and signed an agreement that I would complete the purchase within 90 days--although the clerk told me that this rule wasn't enforced literally and that if I made regular payments, it could extend beyond 90 days.

Cambridge Bioscience said it completed a joint development agreement with American Hospital Supply to jointly develop Cambridge Bioscience's urinary tract diagnostic system.

AT&E Corp. announced an agreement with Hattori Seiko Co. for use of AT&E technology in Seiko wristwatches that will be capable of receiving messages from standard telephones. The agreement provides Seiko with exclusive manufacturing rights in Asia, exclusive selling rights in Asia and nonexclusive selling rights in the United States and Canada.

Pan Electric Industries' chief shareholder signed an agreement enabling the debt-laden firm to resume normal trading for the first time since a dramatic collapse that forced the Singapore and Malaysian stock exchanges to suspend trading for three days. Millionaire businessman Tan Koon Swan signed the agreement giving the company $20 million in new funds.

The Senate today approved a long-delayed agreement providing for nuclear technology cooperation between the United States and China. The voice vote approval came without audible dissent. A resolution approving the agreement is still pending in the House, but the accord will take effect Dec. 11 nonetheless, since it could have been blocked only if the House and Senate both voted against it.

Former UCLA star Irv Eatman, the All-USFL offensive tackle of the Baltimore Stars, has reached agreement on a contract with the NFL's Kansas City Chiefs.