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Is a legally-binding agreement between two or more parties.?
A contract is a legally binding agreement between two or more parties.
A is a legallybinding agreement between two or more partie?
A contract is a legally binding agreement between two or more parties.
Is off the record legally binding?
No, information that is "off the record" is not legally binding. It is an agreement between the parties involved, but it does not hold the same weight as a legally binding contract.
How binding is a purchase agreement?
Contracts are legally binding on both parties to them.
What was Gentleman's agreement?
It is a a non formal and a legally non-binding agreement between two or more parties. It is usually oral and relies on the honour of the parties for its fulfillment
What is a contract, which is an agreement between two parties that creates an obligation?
A contract is a legally binding agreement between two parties that establishes a mutual obligation to fulfill certain terms and conditions.
What are the essential elements that need to be included in a legally binding agreement between two parties?
A legally binding agreement between two parties should include essential elements such as offer, acceptance, consideration, intention to create legal relations, capacity, and certainty of terms. These elements ensure that the agreement is valid and enforceable in a court of law.
Is agreement synonymous with contract?
No, agreement is not synonymous with contract. An agreement is a mutual understanding between parties, while a contract is a legally binding agreement that outlines specific terms and conditions.
What is the difference between a contract and an agreement, and can you provide examples to illustrate this distinction?
A contract is a legally binding agreement between two or more parties that outlines specific terms and conditions. An agreement, on the other hand, is a broader term that refers to a mutual understanding or arrangement between parties, which may or may not be legally enforceable. For example, when you sign a lease agreement with your landlord, you are entering into a contract that legally binds both parties to certain obligations, such as paying rent on time and maintaining the property. On the other hand, if you make a verbal agreement with a friend to meet for lunch next week, this is an informal agreement that is not legally binding.
What does it mean when two parties have a legally binding contract?
To say that two parties have a legally binding contract means that they have entered into a formal written agreement, and if either of them violates that agreement there will be a legal basis for a lawsuit resulting in expensive penalties being imposed by the court.
What is an agreement between two parties?
A contract is a legally binding agreement between two or more parties.
Can a car dealership refuse to pay off trade when it is in the contract?
A contract is a legally binding agreement between the parties who have signed it, unless written into the contract otherwise, all parties are bound by the terms of the agreement/contract they signed.
