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Way too vague. You need to tell us why the contract is bad. There are lots of ways to void a contract depending on a wide variety of circumstances. If you really want to have this question answered, elaborate and tell us why you think the contract is bad and also tell us how the contract was entered into and what the terms of the contract were. If you want an honest answer, tell us the truth. Don't tell us your side, tell us what might be a third person's understanding of the contract.
If you promised to do something based on a valid offer, acceptance, consideration and a meeting of the minds of the terms of the promise then it is binding as an enforceable contract. A party to the contract cannot cancel it later simply because it becomes economically "bad" or disadvantageous or if the party simply changes his mind.
A "bad" contract can be canceled for any number of reasons. There are two types of "bad" contracts that may be canceled. One is if the contract itself is invalid because it lacks the essential elements of a contract. This is where there is no consideration, a mutual misunderstanding of the terms, a misrepresentation by one party that causes the other to misunderstand the contract and other reasons that go to the nature of the contract itself.
Another is even if the contract has all the essential elements but is for an illegal action, is against the established public policy of the state or country or is an oral contract where the law requires a written one. However, even when the contract is oral instead of a required written one, you might not be able to cancel it if there has been part performance of the oral agreement.
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∙ 13y ago
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How can one homeowner get his name off the contract?
Once a contract is signed the agreement is binding on all parties. It can only be revoked or cancelled by all the same parties.
Did Two and a Half Men Cancelled?
No. Charlie was about to quit because they couldn't reach an agreement in the new contract, but they eventually came to one, and Charlie returned.
All contract are agreement but not all agreement are contract?
all contracts are agreement but all agreements are not contract
Which statement about contracts is correct?
The correct statement about contract is that a contract is an agreement between a buyer and a seller. A contract can be a written or oral agreement.
What is a synonym for a covenant?
Pact, contract, binding agreement.
What is a signed agreement?
A contract
When there is an agreement in principle is it legally binding?
Generally speaking, an agreement in principle precedes a contract. The contract is enforceable but the agreement is not.
What is contract and agreement?
There is a minor difference between contract and agreement. The outline of a contract is more formally presented than the terms laid out in an agreement. A contract contains the obligations and authority that the court has to enforce while the agreement is a less formal version of the two parties obligations.
What is agreement contract?
There is a minor difference between contract and agreement. The outline of a contract is more formally presented than the terms laid out in an agreement. A contract contains the obligations and authority that the court has to enforce while the agreement is a less formal version of the two parties obligations.
What do you meant by contract?
A contract is a legally binding agreement.
When does an agreement become contract?
An agreement becomes a contract when there is an offer, acceptance and consideration. Absence of a written contract does not prevent a contract from being form. A contract can be both expressed or implied. Written or verbal.
WHAT IS THE DEFINITION OF AN AGREEMENT?
A Contract
