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What are the essential ingredients of a legally enforceable contract?
Wiki User
∙ 13y ago
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
Wiki User
∙ 13y ago
Wiki User
∙ 9y ago- the offer
- the acceptance of the offer
- the capacity to contract for the different parties
- no mistake, misrepresentation or undue influence
- the lawfulness of the object of the contract
- the intention to be legally binding
- the consideration.
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Is a contract a legally enforceable promise or set of promises?
yes any contract is leagaly binding
What is an unwritten agreement that are legally enforceablecalled?
An unwritten, legally enforceable agreement is usually called a verbal contract.
Can a 17 year old sign a contract in Mighigan?
They can sign it, but it is not legally enforceable.
If a contract is not enforceable is it valid in Va?
The contract is always inforceable by law. And all the parties are legally perfoming there contracts.
When there is an agreement in principle is it legally binding?
Generally speaking, an agreement in principle precedes a contract. The contract is enforceable but the agreement is not.
Is a family constitution a legally enforceable document and where can one get a template?
No, It is known as an intra-family social contract and not legally enforceable. Social service agencies cometimes can be sources of guidlelines for the wording these agreements.
Is an emancipation needed to sign contracts?
You must be 18 or emancipated to sign a legally enforceable contract.
Is a contact without a date legally enforceable?
Yes, it can be enforced. If it is reasonably clear as to the expectations and time frame involved, the court can rule that it is a valid and enforceable contract.
What is a business contract?
A contract is a legally enforceable agreement between two or more persons. A business contract might just be a contract entered into between businesses or for business purposes.
All contracts are agreements but all agreements are not contract discus?
Contracts are agreements that are legally enforceable. An agreement does not have to be legally enforceable in order to be an agreement. The element of enforceability by law is what distinguishes the two.
What are the functions of contract law attorney?
What is Contract Law? Contract Law typically governs the duty obligations and rights of parties to engage in various types of legal agreements and transactions with one another. The legal area of contract law defines the essential elements of a contract, types of binding contract, establishes what constitutes a breach of contract repercussions of a breach contract. Contract Law Many types of contracts exist and the use of contracts is often very important to the smooth functioning of an economy. Legally binding contract help to protect consumer rights by governing transaction from as well as the purchase of them who had large as the purchase of a home Even the sale of multinational corporation can be protected by the obligations set forth under and enforceable contract Essential Elements Of A Legally Enforceable Contracts In its simplest form, a contract can be considered for voluntary agreement to exchange services or goods that becomes enforceable by law To expand upon that further, a contract can be a private understanding between two or more active in an agreement to trade products or services that have a value Legally Enforceable Contracts In the Contract Law may become legally enforceable when all of the following Essential elements are included: OFFER - One party makes an offer to another party for goods and services. ACCEPTANCE - Said party accepts the other party’s offer. CONSIDERATION - An agreement is made to extend goods and services with one another. The three Essential elements of an enforceable contract typically include offer acceptance and consideration Contract Law Attorney Contract Law Attorney can be a highly useful tool when seeking to engage in a contractual obligation and dealing with the replication of a breached contract. If you need a Contract Law Attorney in Newark, NJ, Moldovan Law Firm will help advise you on making a well informed decision prior to entering a contract. They help to write the binding process of the contract and negotiate what the terms are. These attorneys can also help identify a breach of contract and may represent individuals to help through it in a court. If you are looking for a Contract law Attorney in Newark, NJ. I would recommend you Moldovan Law Firm.
Difference between proposal and offer?
In plain English: A PROPOSAL (whether written or verbal) is an informal "guesstimate" as to what it might take to perform or fulfill a certain duty, task, or job. An OFFER is a specific document (always in writing to be legally enforceable) to enter into an agreement with another. An offer is essential to the formation of an enforceable contract.
