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What does FSO mean in a legal contract?
For (the) Service Of
Who is the principle in real estate?
Principal is a legal term. The principal is the person or entity who hires another(via contract) to perform a task on the principal's behalf. These people are called agents. Therefore: Homeowner= Principal hires the... Real estate "Agent"
What are the internal contract and external contract?
internal contract is a contract that exists between the principal and agent. external contract is a contract that exists between the principal and a third party.
Who is the principal in a life insurance contract?
The Insured of the policy is obviously the Principal in a life insurance contract.
What does the word indentify mean?
legal term-protects you in a contract.
If you are emancipated does that mean you are legal?
Legal in what aspect? It means you have the ability to enter into a contract. It does not mean you can drink or do other things that are restricted by age.
Why use Completed Contract Method?
The principal advantage of the completed-contract method is that
What are the roles of the principal and the obligee under surety insurance?
The principal is the party who agrees to perform an obligation. For example, a builder may contract to construct a building. The obligee expects the principal to fulfill a contract
What do you mean by contract to sell?
The contract to sell refers a binding legal agreement between the buyer and sell about the sale of something. The contract to sell is usually enforceable by law.
What happens if you break a legal contract?
A legal contract is binding. If you break the contract without having the legal right to do so as set in the terms of the contract or by having the contract declared void by a court, the other party has the right to sue you in order to be compensated for the value of the contract.
Is a vacation condo rental agreement a legal contract?
Yes, it is a legal contract.
Is a contract legal if there is only 1 legal entity involved?
For a contract to be enforceable, it must be legal. Therefore, if one of the parties signing the contract is not authorized to do so, the contract would be void.
