A binding contract is a written agreement between two people or entities that will be enforced by law. Once a binding contract is...
When going through a divorce, many people experience financial struggles due to the loss of the ex's income. This loss of income may be a factor in choosing not to hire a legal counselor, as the fees and rates for lawyers may be too expensive on a single income. MyLawQuestions is ...
A contract isn’t valid if it contains terms inconsistent with the law. For example, a contract is non-binding if the agreement stipulates that a party must rob a bank to get paid. The unlawful condition renders it null and void.? Consideration People enter a contract because of the consid...
What Is a Photo Disclaimer? Contract What Is a Binding Contract? Law What Is Conflict Management? Civil What Is Tangible Property? Family What Is a Life Tenant? Related Articles Discussion Comments MyLawQuestions, in your inbox Our latest articles, guides, and more, delivered daily. ...
It is also possible, however, to provide acceptance verbally or through performance. Another important element of a binding agreement is that both parties intend that the agreement has legal consequences. Every party in the contract must indicate that they recognize that they are required by law ...
What Is a Binding Contract? Law What Is Conflict Management? Civil What Is Tangible Property? Family What Is a Life Tenant? Discussion Comments ByMonika— On Oct 21, 2011 @KaBoom - I did a bit of reading online about intercreditor agreements. It looks like they are are used most often in...
A: You are correct, there is a third way-renegotiate the terms. The general principles of contract law require that for a contract to be binding, there must be an offer and an acceptance. The acceptance must be the "mirror image" of the offer. In the example you cite, the third-...
Including a penalty clause in a contract is like putting on a suit of armor to shield yourself from potential harm. It acts as a safety net, protecting your interests if the other party fails to meet their obligations. By defining the consequences of non-compliance, you establish a clear fr...
example, a company may contract to construct a new building, but as they begin to dig the footers, they find the underlying soil to be substandard and in need of reinforcement. An addendum is useful to add the requirement to reinforce the soil without the need to recreate a new contract....
It is a complex area and is governed both by the “general law”– that is, laws which have evolved from decisions made over the years by Judges in relation to contract disputes and secondly, “legislation” or “statutory law” – laws introduced by government. “两个或两个以上的人之间...