To begin with, the contract must actually be brought into lawful and legal existence. These begin with mutual, communicated assent to the terms of the purported contract, and an exchange constituting consideration or some kind of legally-acceptable substitute for consideration. A finding of a legal existence of a contract can cause potential liabilities to attach, otherwise the transaction may only amount to an exchange of unenforceable promises.
Contract must be properly signed and witnessed as to make it enforceable to all parties
"Executed contract" can have two meanings.It can mean a contract has been properly signed and witnessed so as to make it enforceable by both parties.It can mean that all the terms of a contract have been carried out.
A:To be a contract in the legal sense, the contract must be enforceable, otherwise it is just a gentleman's agreement. To be enforceable, there must be a jurisdiction that has the power to enforce the contract. If neither party is from an Islamic country and neither party is a Muslim, that could be difficult. It may be possible to create the contract under the law of, say, Saudi Arabia provided that conditions are met which make the contract enforceable in Saudi Arabia.
It is a contract to committ an illegal or immoral act. It is not enforceable in Contract Law. For example you couldn't enforce payment of rent if you let a flat for the of prostitution or consumption of illegal drugs. An otherwise lawful contract can be tainted with illegality, for example a contact of employment wasn't enforceable where the parties had agreed to payment in a way that avoided liability for tax. Although this is not as strictly applied as it once was, especially if the inequality of power would make it unfair not to enforce the contract.
It is always unenforceable; however, estoppel can be used as a "shield" to make it enforceable.
Depends. If the favor is to give money to charity, common law said yes, and that's one of the few such enforceable promises to make a gift. Otherwise, generally no but facts can vary and if there's any kind of consideration for the promise, it might be enforceable.
When 2 or more people make a contract they are agreeing to give each other something for something eg I pay you $1.oo for that tree. If you give me the tree and I do not give you the money we agreed upon that is a breach of contract. By law a judge is going to make me give you the money if there is proof of contract. A contract can be written on a napkin. There must be some kind of writing. In some cases witnesses can serve as proof. Hope this helps. i dont think so it is important to have something written when you are in contract. some times signed contracts are also not enforceable if we dnt have legal intention at the time of signing contract. can some body clear this point to me please?
No. Under the laws of the US, unless the contract or agreement was on paper and signed, it is not enforceable.
To make a contract as per Indian Contracts Act, the following are the essential ingredients a. Proposal whether oral or written b. The person who makes an proposal c. Knowledge of the proposal d. free consent for Acceptance / revocation of the proposal e. consideration f. The person who accept / revoke the proposal
The parties can make changes if they agree to it. Most include the method of changing.
Yes. A lease is a contract and to make it enforceable by either party both must sign.
Lack of proof that would make them enforceable.Lack of proof that would make them enforceable.Lack of proof that would make them enforceable.Lack of proof that would make them enforceable.