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In dealings such as these, consult an attorney in your local area.
A contract, even one with errors, is legally binding upon the signing parties. Hopefully the error is in your favour. Note that if you didn't have an attorney look over the contract, it could be completely different from what the dealership said. (A verbal contract is generally only worth the paper it's printed on.)
I am not a lawyer. You should consult a local lawyer. It's always a good idea to have your own attorney look over any contract before you sign it.
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∙ 16y ago
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If a contract is changed without the knowledge of the guarantor is it valid?
A contract is valid when there is a meeting of the minds. Once a contract is signed, it cannot be changed unless written as an addendum and signed by all parties concerned. A verbal agreement cannot override a written agreement.
Is a surviving spouse who did not sign responsible for a loan the deceased cosigned?
The spouse would only be responsible if they lived in a community property state. Even then it is doubtful the contract would be valid if there were an attempt to collect the debt.
What constitute a valid contract?
An enforceable contract requires the existence of the following elements: an offer, an acceptance that mirrors the terms of the offer, consideration, and lawful subject matter. The "consideration" can consist of money, property, a promise--just about anything of value that is not unlawful. Generally, a court will not inquire into the adequacy of the consideration. "Consideration" might be thought of as the "this for that" or the "quid pro quo". Even of the other elements are present, a contract cannot be enforced if the object of it is unlawful. That is, one cannot, for example, enforce a contract to rob a bank.
What is persuasion and networking?
Persuasion is the process of guiding people and oneself toward the adoption of an idea, attitude, or action. It is what makes a strong and valid networking connection.
How easy is it to have your name removed from a car loan?
You cannot get your name removed from a valid loan. If you signed the contract your name remains in place until the loan is paid off. The only time I have seen the name on a valid loan adjusted was when a signer passed away and another party legally assumed the loan from the finance company. And no, divorce decrees will not help you.
Does mistake invalidate contracts?
For a mistake to affect the validity of a contract it must be an "operative mistake", i.e., a mistake which operates to make the contract void. The effect of a mistake is: At common law, when the mistake is operative the contract is usually void ab initio, i.e., from the beginning. Therefore, no property will pass under it and no obligations can arise under it. Even if the contract is valid at common law, in equity the contract may be voidable on the ground of mistake. Property will pass and obligations will arise unless or until the contract is avoided. However, the right to rescission may be lost. Unfortunately, there is no general doctrine of mistake - the rules are contained in a disparate group of cases. This is also an area of confusing terminology. No two authorities seem to agree on a common classification, and often the same terminology is used to cover different forms of mistake.
What are vitiating factors?
vitiating factors are elements of duress, mistake, misrepresentation, and is a essential element of a valid contract it is recognized in common law that a party might have been coerced, or pressed into a contract. the resulting contract cannot be regarded as a true agreement between the parties.
What are the examples of essentialia of a contract?
valid contract
Should court enforce all contracts?
There are Essential elements for valid contract, contract can be either by writing or orally. Literal and Unilateral contract are both enforceable contract under mistake example at common law are likely to be declare null and void, but equity may apply flexible measures like specific performance, injunction, rectification etc. Contract with a minor is valid and may enforce if its necessary for their necessity. Contract for illegal activities are non enforceable.
What are the factors that vitiate consent to a contract?
There is: Misrepresentation Mistake Duress Undue Influence Illegality
If an item line of a contract is changed and not initialed by both party's is it still a valid contract?
No. It is no longer valid.
How can misrepresentation affect a valid contract?
When someone is induced into entering into a contract as a result of a false statement.
Contract which the year is incorrect .They put 2008 instead of 2009.Will this void the contract?
A 'scribner's error' like this will not necessarily void a contract. If it was a simple mistake, have both parties initial the date change and carry on. And if one party or the other is claiming that it is not valid, the court can determine what is reasonable.
Explain the elements of a valid contract?
Valid elements of a contract include both parties signatures. A contract must also include both parties agreeing on the terms of the contract.
Is money lending a valid contract?
It depends on the contract If you are borrowing from a bank or other valid institution I will guaranty the contract will be valid and enforceable. If you are borrowing from your local loan shark, the "contract" may not be valid, but do you want to take the chance?
What is the effect of coercion and undue influence on the validity of the contract?
The effect of coercion is that It makes the contract voidable at the option of the party's whose consent is obtained by coercionThe effect of undue influence is that it makes the contract voidable at the option of the party's whose consent is obtained by an undue influence[section 9 Indian contract Act]
If the signatories to a contract change is the original contract still valid?
The contract technically isn't valid if the name has changed. You should resign a contract if you would like to continue the business relationship.
