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Can a new lease agreement be broken if the present leasing contract has not expired?


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2009-11-18 13:22:25
2009-11-18 13:22:25

Not if the leasing contract has been signed


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In certain circumstances, a verbal agreement will hold up in court. All the elements of a contract must be present: Offer, acceptance, and consideration.

The word 'contract' is both a verb and a noun.The verb to 'contract' is to make smaller or to become smaller; to acquire or incur; to enter into a formal agreement; a word for an action.The noun 'contract' is a word for an oral or written agreement between parties; a document on which an agreement is written; a word for a thing.The noun forms of the verb to contract are contractor, contraction, and the gerund, contracting.The adjective forms of the verb to contract are contractible, the present participle, contracting, and the past participle, contracted.

Agreement Consideration Legal Object Competent Parties Legal Form

According to the statute of frauds, the agreement may be verbal if a witness is present and is sworn under oath.

"Leasing is only beneficial when the present value of the benefits of leasing exceeds the present value of the costs of leasing." - Corporate Financial Management, Third Edition, by Douglas R.Emery, John D.Finnerty, and John D.Stowe

It depends on what the contract is for. If you are agreeing to anything involving real property, the contract must be in writing to be enforceable. However, oral contracts are enforceable for many things.Added: With the exception noted above, in certain instances [i.e.: if witness(es) was present at the agreement and can testify to it], it may be.

If you are planning on making a buy sell agreement, a lawyer should be present so that any legal aspects will be covered. The time necessary for him to be present would depend on his familiarity with the agreement beforehand.

No, if the contract never existed than he/she should get a lawyer present to discuss the matter t hand. Certainly they can sue. Whether they will be successful will depend on the agreement and what can be inferred from the actions of the parties. Paying rent and its acceptance certainly would indicate some sort of understanding and a contract could be inferred.

'Conditions' and Warranties' may be either express or implied. They "express" when the terms of the contract expressly state them. They are implied when, not being expressly provided for. Express conditions are those, which agreed upon between the parties at the time of contract and are expressly provided in the contract. The implied conditions, on the other hand, are those, which are presumed by law to be present in the contract. It should be noted that an implied condition may be negated or waived by an express agreement. GIVEN BY-SYED ASIF MEHDI

The tricky part about verbal agreements is that if two people have made a verbal agreement but they each present a different version of that agreement (for example, Mr. Smith claims that a monthly fee of $200 was agreed upon, but Mr. Jones says that it was $150) and if there is no written agreement, no video recording of the conversation, and no witness to the verbal agreement, then there is no way to determine whose version of events is correct. So it is very hard to enforce verbal agreements. All you have to do is say, hey, wait a minute, I never agreed to that. Then there is no agreement. But if two parties have a verbal agreement and they both accept the same version of that agreement, then yes, it is legally binding in Tennessee.

No, i had a pack that was expired and i talked to my pharmacist about it and she said that they will NOT work if they are expired and there is a chance you can get pregnant. I would not take them after the expiration date.

All contracts are agreements, but all agreement are not contracts Answer; A contract is a legally binding agreement or relationship that exists between two or more parties to do or abstain from performing certain acts. A contract can also be defined as a legally binding exchange of promises between two or more parties that the law will enforce. For a contract to be formed an offer made must backed acceptance of which there must be consideration. Both parties involved must intend to create legal relation on a lawful matter which must be entered into freely and should be possible to perform. An agreement is a form of cross-reference between different parties, which may be written, oral and lies upon the honor of the parties for its fulfillment rather than being in any way enforceable. All contracts are agreement because there must be mutual understanding between two parties for a contract to be formed. All parties should agree and adhere to the terms and conditions of an offer. The following cases illustrate ways in which all contracts are agreements; In the case of invitation to treat, where an invitation to treat is merely an invitation to make an offer. When a firm's offer is accepted it results into a contract provided other elements of contracts are accepted. Considering person A buying a radio on hire purchase from person B who deals with electronics and its appliances. Both parties must come to an agreement on payment of monthly installment within specified period of time. Such an agreement result to specialty contract which a contract under seal. All contracts are agreementuntil avoided for example, avoidable contract where one of the parties can withdraw from it if s/he wishes. This occurs due to minor agreement and misrepresentation or undue influence. Considering a case where person A make contract with person B but during the contract period B realizes that he was engaged to perform an agreement under undue influence. Definition of contract According to section 2(h) of the Indian Contract Act: " An agreement enforceable by law is a contract." A contract therefore, is an agreement the object of which is to create a legal obligation i.e., a duty enforceable by law. From the above definition, we find that a contract essentially consists of two elements: (1) An agreement and (2) Legal obligation i.e., a duty enforceable by law. We shall now examine these elements detail. 1. Agreement. As per section 2 (e): " Every promise and every set of promises, forming the consideration for each other, is an agreement." Thus it is clear from this definition that a 'promise' is an agreement. What is a 'promise'? the answer to this question is contained in section 2 (b) which defines the term." When the person to whom the proposal is made signifies his assent thereto the proposal is said to be accepted. A proposal, when accepted, becomes a promise." An agreement, therefore, comes into existence only when one party makes a proposal or offer to the other party and that other party signifies his assent (i.e., gives his acceptance) thereto. In short, an agreement is the sum total of 'offer' and 'acceptance'. On analyzing the above definition the following characteristics of an agreement become evident: (a) At least two persons. There must be two or more persons to make an agreement because one person cannot inter into an agreement with himself. (b) Consensus-ad-idem. Both the parties to an agreement must agree about the subject matter of the agreement in the same sense and at the same time. 2. Legal obligation. As stated above, an agreement to become a contract must give rise to a legal obligation i.e., a duty enforceable by law. If an agreement is incapable of creating a duty enforceable by law. It is not a contract. Thus an agreement is a wider term than a contract. " All contracts are agreements but all agreements are not contracts," Agreements of moral, religious or social nature e.g., a promise to lunch together at a friend's house or to take a walk together are not contracts because they are not likely to create a duty enforceable by law for the simple reason that the parties never intended that they should be attended by legal consequences Essential Elements of a Valid Contract A contract has been defined in section 2(h) as "an agreement enforceable by law." To be enforceable by law, an agreement must possess the essential elements of a valid contract as contained in sections 10, 29 and 56. According to section 10, all agreements are contracts if they are made by the free consent of the parties, competent to contract, for a lawful consideration, with a lawful object, are not expressly declared by the Act to be void, and where necessary, satisfy the requirements of any law as to writing or attention or registration. As the details of these essentials form the subject matter of our subsequent chapters, we propose to discuss them in brief here. The essential elements of a valid contract are as follows. 1. Offer and acceptance. There must a 'lawful offer' and a 'lawful acceptance' of the offer, thus resulting in an agreement. The adjective 'lawful' implies that the offer and acceptance must satisfy the requirements of the contract act in relation thereto. 2. Intention to create legal relations. There must be an intention among the parties that the agreement should be attached by legal consequences and create legal obligations. Agreements of a social or domestic nature do not contemplate legal relations, and as such they do not give rise to a contract. An agreement to dine at a friend's house in not an agreement intended to create legal relations and therefore is not a contract. Agreements between husband and wife also lack the intention to create legal relationship and thus do not result in contracts. Try to work out the solution in the following cases and then go to the answer. 3. Lawful consideration. The third essential element of a valid contract is the presence of 'consideration'. Consideration has been defined as the price paid by one party for the promise of the other. An agreement is legally enforceable only when each of the parties to it gives something and gets something. The something given or obtained is the price for the promise and is called 'consideration' subject to certain exceptions; gratuitous promises are not enforceable at law. The 'consideration' may be an act (doing something) or forbearance (not doing something) or a promise to do or not to do something. It may be past, present or future. But only those considerations are valid which are 'lawful'. The consideration is 'lawful'. unless it is forbidden by law; or is of such a nature that, if permitted it would defeat The provisions of any law; or is fraudulent; or involves or implies injury to the person or property of another; or is immoral; or is opposed to public policy (sec.23). 4. Capacity of parties. The parties to an agreement must be competent to contract. But the question that arises now is that what parties are competent and what are not. The contracting parties must be of the age of majority and of sound mind and must not be disqualified by any law to which they are subject (sec.11). If any of the parties to the agreement suffers form minority, lunacy, idiocy, drunkenness etc. The agreement is not enforceable at law, except in some special cases e.g., in the case of necessaries supplied to a minor or lunatic, the supplier of goods is entitled to be reimbursed from their estate (sec 68). 5. Free consent. Free consent of all the parties to an agreement is another essential element. This concept has two aspects.(1) consent should be made and (2) it should be free of any pressure or misunderstanding. 'Consent' means that the parties must have agreed upon the same thing in the same sense (sec. 13). There is absence of 'free consent,' if the agreement is induced by (i)coercion, (ii) undue influence, (iii) fraud, (iv) mis-representation, or (v) mistake (sec. 14). If the agreement is vitiated by any of the first four factors, the contract would be voidable and cannot be enforced by the party guilty of coercion, undue influence etc. The other party (i.e., the aggrieved party) can either reject the contract or accept it, subject to the rules laid down in the act. If the agreement is induced by mutual mistake which is material to the agreement, it would be void (sec. 20) 6. Lawful object. For the formation of a valid contract it is also necessary that the parties to an agreement must agree for a lawful object. The object for which the agreement has been entered into must not be fraudulent or illegal or immoral or opposed to public policy or must mot imply injury to the person or the other of the reasons mentioned above the agreement is void. Thus, when a landlord knowingly lets a house to a prostitute to carry on prostitution, he cannot recover the rent through a court of law or a contract for committing a murder is a void contract and unenforceable by law. 7. Writing and registration. According to the Indian contract Act, a contract to be valid, must be in writing and registered. For example, it requires that an agreement to pay a time barred debt must be in writing and an agreement to make a gift for natural love and affection must be in writing and registered to make the agreement enforceable by law which must be observed. 8. Certainty. Section 29 of the contract Act provides that " Agreements, the meaning of which is not certain or capable of being made certain, are void." In order to give rise to a valid contract the terms of the agreement must not be vague or uncertain. It must be possible to ascertain the meaning of the agreement, for otherwise, it cannot be enforced Illustration. A, agrees to sell B " a hundred ton of oil" there is nothing whatever to show what kind of oil was intended. The agreement is void for uncertainty. 9. Possibility of performance. Yet another essential feature of a valid contract is that it must be capable of performance. Section 56 lays down that "An agreement to do an act impossible in itself is void". If the act is impossible in itself, physically or legally, the agreement cannot be enforced at law. Illustration. A agrees with B, to discover treasure by magic. The agreement is not enforceable. 10. Not expressly declared void. The agreement must not have been expressly declared to be void under the Act. Sections 24-30 specify certain types of agreements that have been expressly declared to be void. For example, an agreement in restraint of marriage, an agreement in restraint of trade, and an agreement by way of wager have been expressly declared void under sections 26, 27 and 30 respectively.

It means that dispensed cash has been timed out and will be retracted by ATM.

"Executed" is PAST tense implying that the contract is completed. "Executing" is PRESENT tense indicating that the requirements of the contract are underway.

Leasing has great potential in India. However, leasing in India faces serious handicaps which may mar its growth in future. The following are some of the problems.1. Unhealthy Competition:The market for leasing has not grown with the same pace as the number of lessors. As a result, there is over supply of lessors leading to competitor. With the leasing business becoming more competitive, the margin of profit for lessors has dropped from four to five percent to the present 2.5 to 3 percent. Bank subsidiaries and financial institutions have the competitive edge over the private sector concerns because of cheap source of finance.2. Lack of Qualified Personnel:Leasing requires qualified and experienced people at the helm of its affairs. Leasing is a specialized business and persons constituting its top management should have expertise in accounting, finance, legal and decision areas. In India, the concept of leasing business is of recent one and hence it is difficult to get right man to deal with leasing business. On account of this, operations of leasing business are bound to suffer.3. Tax Considerations:Most people believe that lessees prefer leasing because of the tax benefits it offers. In reality, it only transfers; the benefit i.e. the lessee's tax shelter is lessor's burden. The lease becomes economically viable only when the transfer's effective tax rate is low. In addition, taxes like sales tax, wealth tax, additional tax, surcharge etc. add to the cost of leasing. Thus leasing becomes more expensive form of financing than conventional mode of finance such as hire purchase.4. Stamp Duty:The states treat a leasing transaction as a sale for the purpose of making them eligible to sales tax. On the contrary, for stamp duty, the transaction is treated as a pure lease transaction. Accordingly a heavy stamp duty is levied on lease documents. This adds to the burden of leasing industry.5. Delayed Payment and Bad Debts:The problem of delayed payment of rents and bad debts add to the costs of lease. The lessor does not take into consideration this aspect while fixing the rentals at the time of lease agreement. These problems would disturb prospects of leasing business.

"Bargaining" is the present participle of bargain - to make a contract for the exchange of property or services.

No-contract cell phones present an alternative solution for individuals with limited credit that do not qualify for a cell phone contract as well as those who do not require the extensive services and unlimited talk time associated with contract plans. Phones available for purchase to be used with a no-contract plan have many similar features and capabilities as other cell phones such as texting, photo capabilities and accessories. Cards with pre-loaded minutes are widely available for purchase to use these phones.

If a contract has not been completed, then the estate can be sued. You, along with other creditors will have the opportunity to present your case and a judge can award you a settlement.

Holding Companies frequently diversify into unrelated businesses. For example General Electric is present in Banking, Real Estate, Aircraft Leasing and many more industries.

A non-disclosure agreement, also called a confidentiality agreement, is a contract that prohibits a company or individual from sharing private information owned by another individual or entity. This contract might be used to protect an unpatented idea, business plan, or other valuable information. If a person breaks this agreement, a court might force the violator to pay damages and immediately discontinue disclosing additional information.Constructing a Contract from a Non-Disclosure Agreement TemplateBefore sharing valuable information with another individual or company, it is important to present the entity with a non-disclosure agreement. Unless you have an attorney available to construct this contract for you, you might need to create this document using a non-disclosure agreement template.A non-disclosure agreement template is a generic document that can be tailored to meet an individual's requirements. Most templates have been constructed by attorneys or professionals experienced in this area of law. In most cases, these documents are very similar to what would be created with the help of an attorney. Fortunately, non-disclosure agreement templates are available online for free or for a small fee.Choosing the Best Non-Disclosure Agreement TemplateThe most difficult aspect of using a non-disclosure agreement template is choosing a template that fits the situation. There are many different types of non-disclosure agreements. These agreements are used between employees and employers, different companies, companies and service providers, and contractors and companies. Some non-disclosure agreements are one way, while others are two-way agreements. Before choosing a template, it is important to define your individual situation.For instance, if you have an idea for an invention, you might need to consult a company for assistance on product development, funding, or marketing. In this situation, you should use a template created for the one-way sharing of information with a company. If your company will be sharing private trade information, you will need a document designed for corporations or companies mutually trading information.Once you have found a suitable template, you must input your name and contact information as well as the other entity's name and contact information. You must also include information regarding the reason for sharing information, the term of the contract, whether the contract is renewable, and information regarding termination. To ensure the contract is enforceable, you might want to consult an attorney. Once you have completed the contract, you must sign the document and collect the signature of the individual who will be receiving your private information.

If you did not give him the title, all you need to do is go get the car (hope you kept the spare key). If you did sign the title over to him with no documented agreement concerning the payments, you have probably given your (ex)friend an expensive present.

No if ur over 18 you need your adult permit. You need a valid permit present to take the test

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