As a business owner, you probably enter into contractual relationships every day. Many of you deal with written contracts on a fairly regular basis. However, do you understand the basic concepts of contract law and what makes a legally binding contract? Do you know what to look for when revi...
A contract is only legally binding if it involves the exchange of consideration or both parties give something of value. The party who makes the offer gains a benefit, while the party who accepts the offer incurs a corresponding cost. According to the law, the consideration only has to be ...
In order to be considered a legally binding invoice, it must contain the name and contact information of the buyer, the date of issue, a unique invoice number, the number of goods sold, and the total due. What makes an invoice legally binding? One simplest, most straightforward way to con...
A contract is considered non-binding if it explicitly contains language that renders it non-binding or if it lacks any of the key elements that make it binding. Now that you know the definition of a non-binding contract, let’s explore how you can differentiate a binding contract from a n...
Discover what makes a contract null and void, the key legal elements of a valid contract, and common reasons for contract invalidation. Learn how to avoid unenforceable agreements.
What makes a document invalid or not legally binding? In general, legal documents have varying levels of unenforceability. Some documents may be considered completely invalid if the basic elements of a contract (offer, acceptance, consideration) aren’t followed. ...
This article addresses the basics of the necessary “elements” to create a legally binding contract.When boiled down to the bones, there are really only three elements to a binding contract. A contract consists of an offer, an acceptance, and “consideration” on the part of each party. ...
11.3. Subject to Clause 11.2, if you are a business user, what3words shall not be liable in contract, tort (including negligence), pre-contract or other representations (other than fraudulent misrepresentations) or otherwise to you or any third party for any loss or damage whatsoever or how...
A contract is formed when one party makes an offer which is unconditionally accepted by the other. Acceptance may be issued in writing, given orally or may be deemed to have taken place because of the conduct of the party in receipt of the offer. A purported acceptance which contains terms...
13.3. Subject to Clause 13.1, and notwithstanding the generality of Clause 13.2, what3words shall not be liable in contract, tort (including negligence), pre-contract or other representations (other than fraudulent misrepresentations) or otherwise arising out of or in connection with this Agreement...