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Can a home purchase contract be considered binding in the form of a verbal agreement?
Wiki User
∙ 13y ago
This would violate the statue of frauds. The sale of property must be in writing to be valid.
Wiki User
∙ 8y ago
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How binding is a purchase agreement?
Contracts are legally binding on both parties to them.
what are Difference between a contract and an agreement?
a contract is LEGALLY BINDING, an agreement is not necessarily legally binding depending on the circumstances
When is a home purchase contract considered binding?
As soon as an agreement of purchase and sale has been signed by all parties, and a deposit provided by the purchaser, the contract is in force. The contract could, however, contain one or more "escape" clauses which would void the contract. It depends upon the wording of the contract.
What do you meant by contract?
A contract is a legally binding agreement.
What is written contract?
A written contract is an agreement written on paper by 2 or more people that is then signed by each person and is considered to be binding.
What is a synonym for a covenant?
Pact, contract, binding agreement.
What is another name for the contract of agreement?
A Legally Binding Agreement.
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.
A is a legallybinding agreement between two or more partie?
A contract is a legally binding agreement between two or more parties.
Is a legally-binding agreement between two or more parties.?
A contract is a legally binding agreement between two or more parties.
Is an unauthorized commitment not binding solely because the agreement involved a purchase amount above the micro-purchase threshold?
An unauthorized commitment is an agreement that is not binding solely because the agreement involved a purchase amount above the micro-purchase threshold.
What is a legally binding agreement that can be rejected at the option of one of the parties?
A unilateral contract is a legally binding agreement in which only one party makes a promise or undertakes an obligation, while the other party has the option to accept or reject it. If the second party chooses not to accept the terms of the contract, they are generally not bound by its terms.
