A contract cannot be changed by one party without the agreement of the other party in the contract. So if you signed a contract showing one interest rate and the other party changed the interest rate after you signed the contract, then you should be able to get out of it. If you signed the contract with the changed interest rate, you, in essence, were indicating the interest rate was acceptable. In this case you may be stuck unless you can reach an agreement with the general manager at the dealership. Below are the requirements of a valid contract that might be of interest.Regards, Carole
Here are the REQUIREMENTS OF A VALID CONTRACT
For a contract to be valid, both parties must give their assent. They must act in such a way that the other people involved believe their intention is to make a contract. Thus a person who is clearly not sincere in saying that he or she accepts an offer usually is not held to a contract by the courts.
On the other hand, a person who secretly has no intention of making a contract but who acts in a manner that leads people to believe he or she had, may be held to a contract. Legally, it is the external appearance that determines whether one is held to a contract
Consideration A contract results from a bargain. This implies that each party to thecontract gives up something, or promises to, in exchange for something given up or promised by the other party. This is called consideration. In the example given above, the consideration on one side is the promise to pay $1,000, and on the other, the promise to deliver a car.
With rare exceptions, a promise by one party, without some form ofconsideration being extended by the other party, does not result in a contract or other enforceable obligation, regardless of the sincerity of the promise. Although each party must extend consideration to the other in order to form a contract, the value of the consideration need not be equal.
Determining how good a bargain is becomes the responsibility of theparties involved. Otherwise, the courts would be in the impossibleposition of having to appraise the relative value of millions of promises made every year
Competence For a contract to be enforceable it must be between competent parties. A contract with a person who has been adjudicated insane is likely to be declared void. A contract involving a minor--in most states of the UnitedStates a minor is now a person under 18--may be enforced or voided by the minor, unless the contract is for necessities such as food, lodging, or medical services, in which case he or she may be held responsible for thereasonable value of what was purchased.
Persons suffering from a disability such as intoxication from drugs or liquor, or insane persons not adjudicated insane, usually may void a contract if the other party knows or should have known of the disability and if the consideration received is returnable
Legality The last requirement of a valid contract is that its provisions be legal. If a purported contract requires an illegal act, the result is a void contract. Parties to an illegal contract have no standing in court. If one party receives money or property under an illegal contract, the other maynot sue to recover what was paid under the contract. Not only arecontracts requiring criminal acts illegal, so are contracts requiringcommission of a TORT (a breach of civil law such as misrepresentation or trespass) or those in breach of public policy. Although public policy is difficult to define, it includes some serious breaches of conventional morality or ethics.
It is commonly assumed that an enforceable contract must be in writing. This is usually untrue. Most oral contracts are enforceable, but written contracts are easier to prove.
Some types of contracts must be in writing, for example, contracts forthe purchase or sale of any interest in real property, contracts to pay debts of others, and contracts that require more than a year to perform. Contracts for the sale of personal property--that is, movable property--asdistinguished from land, at a price above a specified sum set by law must be in writing unless payment or delivery has been made or unless the goods were specially manufactured.
Although only a few types of contracts must be in writing, the terms of a written contract ordinarily may not be contradicted in court by oral testimony.
Contract rate is known as a coupon rate (because older securities actually had coupons that were clipped and sent to paying banks for periodic interest). It is the fixed rate of interest for which a particular bond was issued. Market rate is actually known as yield (prevailing interest rate for new bonds) and yields change with prevailing interest rates. Yields are closely aligned with prevailing interest rates.
The essence of an insurable risk is essentially one in which the person or entity insured has an "insurable interest". This means, that the insured must have a reasonable expectation of advantage, usually monetary, from the continued existence of the property or life insured. It need not be an ownership interest. For example, a spouse who did not have an ownership interest in her husband's car, but who had the right to use the car, would have a sufficient insurable interest in it to support a contract of insurance. The lack of an insurable interest makes an insurance contract essentially a gambling contract--because the person taking out the insurance really has nothing to lose if the property insured is destroyed.
A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.
I am trying to find the answer to this question because I am getting charged over 90% interest by cash call, and I don't think this is at all legal!!!
You can go to any bank or mortgage company. However, I would ask about their interest rates also, you want to make sure it is a fixed rate not a a balloon because then your interest rate can fluctuate.
ok the answer is the school is a oscial contract because it contract to other kids
If the selling dealer pays for some repairs on a car you bought "AS IS" then count yourself lucky that the dealer went above and beyond what he legally was required to do. If you are trying to get out of the contract on this technicality then you did not deserve the fair treatment the seller gave you. No court would ever void the contract because the seller helped you when he did not have to.
The major companies offering refinancing in California are Quicken Loans, GMAC Mortgage, California Bank, and Mortgage Central. Quicken loans for me is the best because they offer flexible payment option and low interest rates.
Real property is the land and anything attached to it. A lease is a contract that gives the lessee the right to the use and possession of real property for a certain time period. The lessee cannot convey the land because it doesn't own it in fee. A lease is less than a fee interest and is treated as personal property.
A change contract is not necessarily considered to be a new contract. This is because there may not have been many changes to the contract and the idea is still the same.
Usually yes because an insurance agency does not issue the insurance, it sells or brokers an insurance contract that is issued by an insurance. However some insurances do not like it when there is a controlling interest in a mortgage company. It all depends.
Yes, you can buy life insurance on your sibling. A brother and sister have insurable interest in each other because of blood or marriage. Therefore, siblings can buy life insurance on each other because there is an insurable interest in one another. An insurable interest must exist at the time the life insurance contract is purchased, not necessarily at the time of loss.