Asked by Andy Blackwell Uncategorized
What are the examples of essentialia of a contract?
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How do you use the word contract as a adjective?
The word 'contract' is a noun and a verb. A noun functioning as an adjective to describe another noun is called an attributive noun (or noun adjunct). The adjective forms of the verb 'to contract' are contracting and contracted. Examples: We have a contract cleaner to clean the offices three times a week The contract dispute was decided in a lawsuit. We have a deadline for submitting the bid to the contracting agency. I can recommend our contracted landscaper.
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What is meant by invalid contract and void contract?
"Invalid contract" might describe the terms of an agreement that purports to be a contract--but by one or more legal theories does not constitute one, and is therefore unenforceable as one. This refers to a defect in contract formation--whose elements are those of mutual assent (effectively-communicated offer and acceptance) and consideration (a bargained-benefit or detriment). An "invalid contract" may or may not be enforceable as a set of one or more enforceable promises, depending on whether alternative theories apply, such as that of promissory estoppel. Void contract, as compared with voidable contract, refers to a contract that has become void by reason of one or more contract-law avoidance theories. A voidable contract is one voidable at the option of one of the parties. Two examples: a contract entered into for an illegal purpose is void. A contract entered into by a minor is voidable at the minor's option unless subsequently ratified.
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Yes all contracts are agreements but all agreements are not contracts. Only those agreements are contracts which can be executable by law and those agreements which cannot/impossible to execute by law is not a contract. For e.g A agreed to pay B if C default payment is a valid contract. where as A agreed to pay B if B do a favour which is illegal is not a contract.
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Entering into an unauthorized contract and or providing insider information to a contractor are examples of unethical behavior?